PetIQ (NASDAQ:PETQ) Reaches New 1-Year High at $30.84

PetIQ, Inc. (NASDAQ:PETQ)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $30.84 and last traded at $30.81, with a volume of 41717 shares traded. The stock had previously closed at $30.68.

Analyst Ratings Changes

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

PetIQ Stock Performance

The company has a market cap of $914.58 million, a P/E ratio of 139.82 and a beta of 1.73. 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 business has a 50-day moving average of $26.63 and a two-hundred day moving average of $21.61.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. The company had revenue of $328.90 million during the quarter, compared to analysts’ expectations of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, sell-side analysts predict that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of PetIQ

Several institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in PetIQ by 86.2% during the second quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $28,000 after acquiring an additional 579 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in PetIQ in the second quarter valued at $36,000. ICA Group Wealth Management LLC acquired a new stake in PetIQ in the fourth quarter valued at $35,000. Canada Pension Plan Investment Board purchased a new stake in PetIQ during the 2nd quarter worth about $51,000. Finally, FinTrust Capital Advisors LLC boosted its position in shares of PetIQ by 50.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after acquiring an additional 875 shares in the last quarter. 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.