SG Americas Securities LLC Boosts Stake in PetIQ, Inc. (NASDAQ:PETQ)

SG Americas Securities LLC grew its stake in PetIQ, Inc. (NASDAQ:PETQ) by 60.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,417 shares of the company’s stock after acquiring an additional 3,906 shares during the quarter. SG Americas Securities LLC’s holdings in PetIQ were worth $321,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PETQ. CWM LLC raised its holdings in PetIQ by 86.2% in the second 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. First Horizon Advisors Inc. purchased a new stake in PetIQ during the second quarter valued at approximately $36,000. FinTrust Capital Advisors LLC grew its holdings in PetIQ by 50.2% in the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after purchasing an additional 875 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of PetIQ during the second quarter worth $51,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of PetIQ by 107.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,221 shares of the company’s stock valued at $91,000 after purchasing an additional 2,704 shares during the last quarter. 94.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PETQ shares. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and raised their price target for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair downgraded shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Trading Up 0.1 %

Shares of PetIQ stock opened at $30.93 on Friday. PetIQ, Inc. has a twelve month low of $15.09 and a twelve month high of $31.06. The firm’s 50-day moving average price is $30.68 and its 200 day moving average price is $23.99. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $924.50 million, a PE ratio of 79.31 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $330.14 million. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that PetIQ, Inc. will post 1.15 EPS for the current fiscal year.

PetIQ 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.