PetMed Express (NASDAQ:PETS) Stock Rating Upgraded by StockNews.com

PetMed Express (NASDAQ:PETS) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Lake Street Capital reissued a “hold” rating and issued a $3.50 target price (down previously from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

PetMed Express Stock Performance

PetMed Express stock opened at $5.28 on Tuesday. The stock has a market cap of $108.98 million, a P/E ratio of -87.92 and a beta of 0.68. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $8.27. The firm’s fifty day moving average price is $3.98 and its 200-day moving average price is $3.92.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.17. The firm had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $66.02 million. PetMed Express had a negative net margin of 0.37% and a negative return on equity of 1.00%. Sell-side analysts predict that PetMed Express will post 0.24 earnings per share for the current year.

Insider Activity at PetMed Express

In other news, major shareholder Nina Capital Holdings Inc. bought 12,500 shares of PetMed Express stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $3.34 per share, with a total value of $41,750.00. Following the completion of the purchase, the insider now directly owns 2,078,000 shares in the company, valued at $6,940,520. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of PetMed Express

Institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in PetMed Express during the second quarter valued at about $34,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PetMed Express by 48.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,229 shares of the company’s stock worth $620,000 after purchasing an additional 42,125 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of PetMed Express by 22.8% during the first quarter. BNP Paribas Financial Markets now owns 66,501 shares of the company’s stock worth $319,000 after purchasing an additional 12,326 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of PetMed Express during the second quarter worth about $273,000. Finally, SG Americas Securities LLC purchased a new stake in shares of PetMed Express during the second quarter worth about $46,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.