PetIQ (NASDAQ:PETQ) Sees Large Volume Increase

PetIQ, Inc. (NASDAQ:PETQ) saw an uptick in trading volume on Thursday . 825,409 shares traded hands during trading, an increase of 80% from the previous session’s volume of 458,094 shares.The stock last traded at $30.77 and had previously closed at $30.78.

Analyst Upgrades and Downgrades

PETQ has been the topic of several analyst reports. William Blair cut shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial downgraded 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 note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.67.

PetIQ Price Performance

The company has a market cap of $918.82 million, a P/E ratio of 139.73 and a beta of 1.73. The firm’s 50-day moving average is $27.49 and its two-hundred day moving average is $22.02. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.50 by $0.20. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The company had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. During the same period last year, the company earned $0.37 earnings per share. PetIQ’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that PetIQ, Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On PetIQ

Several hedge funds and other institutional investors have recently made changes to their positions in PETQ. Swiss National Bank purchased a new stake in shares of PetIQ in the fourth quarter valued at about $1,080,000. Teacher Retirement System of Texas purchased a new stake in shares of PetIQ in the 4th quarter valued at approximately $680,000. Dimensional Fund Advisors LP grew its position in PetIQ by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock worth $21,461,000 after acquiring an additional 132,450 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in PetIQ by 24.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,377 shares of the company’s stock worth $817,000 after acquiring an additional 8,083 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in PetIQ by 7.1% in the fourth quarter. Nomura Holdings Inc. now owns 423,496 shares of the company’s stock valued at $8,364,000 after purchasing an additional 28,231 shares during the period. Institutional investors and hedge funds 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.