PetIQ (NASDAQ:PETQ) Hits New 1-Year High – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

PetIQ Stock Performance

The company has a market capitalization of $922.70 million, a PE ratio of 140.37 and a beta of 1.73. The stock’s 50-day simple moving average is $29.12 and its 200 day simple moving average is $22.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating 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 company had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $330.14 million. During the same period last year, the firm earned $0.37 earnings per share. PetIQ’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that PetIQ, Inc. will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of PetIQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of PetIQ by 86.2% in the 2nd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after buying an additional 579 shares during the last quarter. First Horizon Advisors Inc. acquired a new position in PetIQ in the second quarter valued at $36,000. FinTrust Capital Advisors LLC grew its holdings in shares of PetIQ by 50.2% during 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 stake in shares of PetIQ during the second quarter worth about $51,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of PetIQ by 107.4% in 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. Institutional investors and hedge funds 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.