PetIQ (NASDAQ:PETQ) Reaches New 12-Month High at $30.84

PetIQ, Inc. (NASDAQ:PETQ) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.84 and last traded at $30.81, with a volume of 41717 shares changing hands. The stock had previously closed at $30.68.

Analyst Ratings Changes

A number of brokerages have commented on PETQ. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Truist Financial cut shares of PetIQ from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

PetIQ Stock Up 0.2 %

The firm’s 50-day moving average price is $26.63 and its 200 day moving average price is $21.61. The company has a market capitalization of $914.58 million, a price-to-earnings ratio of 139.82 and a beta of 1.73. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68.

PetIQ (NASDAQ:PETQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.50 by $0.20. The firm had revenue of $328.90 million during the quarter, compared to the consensus estimate of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, sell-side analysts forecast that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On PetIQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank acquired a new position in shares of PetIQ in the 4th quarter worth approximately $1,080,000. Natixis Advisors L.P. grew its position in shares of PetIQ by 10.2% during the 4th quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock valued at $237,000 after acquiring an additional 1,113 shares during the period. Teacher Retirement System of Texas purchased a new position in PetIQ in the 4th quarter valued at approximately $680,000. Dimensional Fund Advisors LP boosted its position in shares of PetIQ by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after acquiring an additional 132,450 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in PetIQ by 24.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,377 shares of the company’s stock valued at $817,000 after purchasing an additional 8,083 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

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.