China Universal Asset Management Co. Ltd. Acquires 2,233 Shares of PetIQ, Inc. (NASDAQ:PETQ)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 64.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,703 shares of the company’s stock after purchasing an additional 2,233 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in PetIQ were worth $175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in PetIQ by 86.2% in the 2nd 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. bought a new stake in shares of PetIQ during the 2nd quarter valued at about $36,000. FinTrust Capital Advisors LLC lifted its position in PetIQ by 50.2% during the 1st 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 during the period. Canada Pension Plan Investment Board purchased a new position in PetIQ during the 2nd quarter valued at about $51,000. Finally, DekaBank Deutsche Girozentrale lifted its position in 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 acquiring an additional 2,704 shares during the period. Institutional investors own 94.99% of the company’s stock.

Analysts Set New Price Targets

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

PetIQ Price Performance

PETQ opened at $30.98 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average price of $30.76 and a 200-day moving average price of $24.72. PetIQ, Inc. has a twelve month low of $15.09 and a twelve month high of $31.06. The stock has a market capitalization of $925.99 million, a price-to-earnings ratio of 79.44 and a beta of 1.73.

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

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.