PetIQ (NASDAQ:PETQ) Reaches New 1-Year High – Here’s Why

PetIQ, Inc. (NASDAQ:PETQ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.06 and last traded at $30.86, with a volume of 192026 shares. The stock had previously closed at $30.87.

Analyst Ratings Changes

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

PetIQ Price Performance

The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. The stock’s fifty day moving average is $29.49 and its 200-day moving average is $23.21. The stock has a market cap of $922.70 million, a PE ratio of 140.32 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $330.14 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. PetIQ’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that PetIQ, Inc. will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in PetIQ by 60.0% in the third quarter. SG Americas Securities LLC now owns 10,417 shares of the company’s stock valued at $321,000 after buying an additional 3,906 shares during the last quarter. Millennium Management LLC lifted its position in shares of PetIQ by 476.4% during the second quarter. Millennium Management LLC now owns 486,445 shares of the company’s stock worth $10,731,000 after purchasing an additional 402,057 shares in the last quarter. Marshall Wace LLP lifted its position in shares of PetIQ by 21.7% during the second quarter. Marshall Wace LLP now owns 396,373 shares of the company’s stock worth $8,744,000 after purchasing an additional 70,786 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of PetIQ during the second quarter worth about $51,000. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of PetIQ during the second quarter worth approximately $1,219,000. 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.