Benchmark Reiterates "Buy" Rating for PetIQ (NASDAQ:PETQ)

PetIQ (NASDAQ:PETQ - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Benchmark in a research note issued to investors on Friday, Benzinga reports. They presently have a $30.00 price objective on the stock. Benchmark's price target would indicate a potential upside of 62.69% from the stock's current price.

Separately, Jefferies Financial Group upped their price objective on PetIQ from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $29.00.

PetIQ Stock Performance

PetIQ stock traded down $0.25 during mid-day trading on Friday, reaching $18.44. 331,678 shares of the stock traded hands, compared to its average volume of 282,658. PetIQ has a 12-month low of $12.19 and a 12-month high of $22.98. The business's 50-day moving average is $17.06 and its 200-day moving average is $17.99. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.27 and a quick ratio of 1.43. The stock has a market capitalization of $542.71 million, a PE ratio of 302.33 and a beta of 1.68.

PetIQ (NASDAQ:PETQ - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.22. The firm had revenue of $219.93 million during the quarter, compared to analyst estimates of $189.70 million. PetIQ had a net margin of 0.19% and a return on equity of 11.72%. As a group, sell-side analysts predict that PetIQ will post 0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of PetIQ in the third quarter valued at about $113,000. Strs Ohio purchased a new position in PetIQ in the 3rd quarter worth approximately $648,000. Allspring Global Investments Holdings LLC grew its holdings in PetIQ by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,222 shares of the company's stock valued at $1,580,000 after buying an additional 16,964 shares in the last quarter. Olympiad Research LP bought a new stake in PetIQ in the 3rd quarter valued at $205,000. Finally, Principal Financial Group Inc. purchased a new position in shares of PetIQ in the third quarter valued at $221,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.