PetIQ (NASDAQ:PETQ) Shares Gap Down to $36.18


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PetIQ, Inc. (NASDAQ:PETQ) shares gapped down prior to trading on Thursday . The stock had previously closed at $36.18, but opened at $35.00. PetIQ shares last traded at $35.14, with a volume of 165 shares changing hands.

PETQ has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of PetIQ from a “strong sell” rating to a “hold” rating in a report on Saturday, March 27th. Raymond James lifted their price target on shares of PetIQ from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, March 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. PetIQ has a consensus rating of “Buy” and a consensus target price of $69.40.

The company has a current ratio of 2.45, a quick ratio of 1.62 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -11.02, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The company’s 50 day moving average is $35.16 and its 200 day moving average is $33.16.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.01. PetIQ had a negative net margin of 10.13% and a positive return on equity of 4.47%. The company had revenue of $164.21 million for the quarter, compared to the consensus estimate of $146.48 million. Analysts anticipate that PetIQ, Inc. will post 0.18 EPS for the current fiscal year.

In other news, CFO John Newland sold 9,000 shares of PetIQ stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $36.00, for a total value of $324,000.00. Following the sale, the chief financial officer now owns 77,329 shares of the company’s stock, valued at $2,783,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald Kennedy sold 5,000 shares of PetIQ stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $34.25, for a total transaction of $171,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,582,235 shares of company stock worth $55,733,506. Insiders own 24.12% of the company’s stock.

Several large investors have recently modified their holdings of PETQ. SG Americas Securities LLC purchased a new stake in PetIQ during the fourth quarter worth about $181,000. Great West Life Assurance Co. Can boosted its holdings in PetIQ by 289.3% during the third quarter. Great West Life Assurance Co. Can now owns 4,901 shares of the company’s stock worth $40,000 after buying an additional 3,642 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in PetIQ during the fourth quarter worth about $231,000. ProShare Advisors LLC boosted its holdings in PetIQ by 30.9% during the fourth quarter. ProShare Advisors LLC now owns 8,637 shares of the company’s stock worth $332,000 after buying an additional 2,038 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in PetIQ during the third quarter worth about $288,000.

PetIQ Company Profile (NASDAQ:PETQ)

PetIQ, Inc operates as a pet medication and wellness company. It operates through two segments, Products and Services. The company offers prescription pet medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; and over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars.

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