PetMed Express (PETS) Given a $58.00 Price Target at Northcoast Research

Northcoast Research set a $58.00 price target on PetMed Express (NASDAQ:PETS) in a research report sent to investors on Wednesday. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of PetMed Express from a buy rating to a hold rating in a research report on Monday, October 2nd. Credit Suisse Group reaffirmed an underperform rating and set a $19.00 target price on shares of PetMed Express in a report on Monday, October 2nd. Zacks Investment Research cut shares of PetMed Express from a strong-buy rating to a hold rating in a report on Monday, September 25th. BidaskClub raised shares of PetMed Express from a buy rating to a strong-buy rating in a report on Saturday, December 9th. Finally, Noble Financial reaffirmed a hold rating on shares of PetMed Express in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $42.80.

PetMed Express (NASDAQ:PETS) traded up $1.24 during mid-day trading on Wednesday, hitting $47.93. 612,582 shares of the company’s stock were exchanged, compared to its average volume of 507,838. PetMed Express has a 12-month low of $19.21 and a 12-month high of $50.90. The stock has a market capitalization of $987.56, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings data on Monday, October 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.30 by $0.13. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $63.41 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. PetMed Express’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts anticipate that PetMed Express will post 1.68 earnings per share for the current fiscal year.

In other news, Director Ronald J. Korn sold 1,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the completion of the sale, the director now directly owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gian Fulgoni sold 20,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $44.38, for a total transaction of $887,600.00. Following the completion of the sale, the director now directly owns 55,900 shares of the company’s stock, valued at $2,480,842. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PETS. Schwab Charles Investment Management Inc. increased its stake in shares of PetMed Express by 20.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 84,764 shares of the company’s stock worth $3,442,000 after purchasing an additional 14,456 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of PetMed Express by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock worth $17,542,000 after acquiring an additional 49,889 shares during the last quarter. Legal & General Group Plc boosted its position in shares of PetMed Express by 9.0% during the second quarter. Legal & General Group Plc now owns 36,258 shares of the company’s stock worth $1,472,000 after acquiring an additional 2,992 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of PetMed Express by 52.8% during the second quarter. BNP Paribas Arbitrage SA now owns 6,271 shares of the company’s stock worth $255,000 after acquiring an additional 2,167 shares during the last quarter. Finally, BB&T Securities LLC bought a new position in shares of PetMed Express during the second quarter worth $221,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

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PetMed Express Company Profile

PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.

Analyst Recommendations for PetMed Express (NASDAQ:PETS)

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