PetIQ (NASDAQ:PETQ) Sets New 12-Month High at $30.68

PetIQ, Inc. (NASDAQ:PETQ)’s stock price reached a new 52-week high on Monday . The stock traded as high as $30.68 and last traded at $30.67, with a volume of 204739 shares traded. The stock had previously closed at $30.55.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial cut shares of PetIQ from a “buy” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $31.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.67.

PetIQ Stock Down 0.1 %

The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58. The company has a fifty day simple moving average of $26.15 and a two-hundred day simple moving average of $21.36. The firm has a market capitalization of $911.60 million, a PE ratio of 139.55 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The company had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same period in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that PetIQ, Inc. will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On PetIQ

Several institutional investors have recently bought and sold shares of PETQ. Goldman Sachs Group Inc. boosted its position in PetIQ by 11.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after acquiring an additional 108,870 shares in the last quarter. ProShare Advisors LLC boosted its position in PetIQ by 119.6% during the first quarter. ProShare Advisors LLC now owns 173,453 shares of the company’s stock valued at $3,171,000 after purchasing an additional 94,453 shares in the last quarter. Swiss National Bank purchased a new position in PetIQ in the fourth quarter valued at about $1,080,000. Los Angeles Capital Management LLC grew its stake in PetIQ by 196.6% in the first quarter. Los Angeles Capital Management LLC now owns 129,632 shares of the company’s stock valued at $2,370,000 after purchasing an additional 85,920 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in PetIQ by 105.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 140,660 shares of the company’s stock worth $2,571,000 after purchasing an additional 72,187 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.