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

PetIQ, Inc. (NASDAQ:PETQ)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.84 and last traded at $30.84, with a volume of 256911 shares changing hands. The stock had previously closed at $30.77.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PETQ shares. William Blair lowered PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Truist Financial cut PetIQ from a “buy” rating to a “hold” rating and increased their target price for the company from $30.00 to $31.00 in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.67.

PetIQ Price Performance

The company has a market capitalization of $917.55 million, a PE ratio of 140.14 and a beta of 1.73. The firm has a fifty day moving average of $28.75 and a two-hundred day moving average of $22.82. 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 announced its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same quarter in the prior year, the company earned $0.37 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that PetIQ, Inc. will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of PetIQ by 86.2% in the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after purchasing an additional 579 shares in the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of PetIQ by 50.2% in the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after acquiring an additional 875 shares in the last quarter. ClariVest Asset Management LLC lifted its position in shares of PetIQ by 1.3% in the second quarter. ClariVest Asset Management LLC now owns 94,603 shares of the company’s stock valued at $2,087,000 after acquiring an additional 1,209 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in shares of PetIQ in the second quarter worth about $36,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of PetIQ by 67.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,643 shares of the company’s stock worth $103,000 after purchasing an additional 2,271 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

PetIQ Company Profile

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.