PetMed Express Inc. (PETS) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “PetMed exhibited a better-than-expected earnings performance in its first-quarter fiscal 2017, while revenues remained below the Zacks Consensus Estimate. We are impressed with the fact that,after a series of continued drag in new order sales, the last three quarters saw a turnaround in the number primarily on the back of more aggressive pricing. However, the still sluggish re-order sales remains a serious concern. Meanwhile, gross margin pressure continues. We are also concerned about the pressure on operating margin despite the company’s ongoing cost reduction initiatives. On the flip side, however, lesser advertising raises concerns. The company is presently trying to implement several strategies to revive its top line. These include focus on advertising efficiency to improve new order sales and shifting sales to higher margin items.”
Separately, Credit Suisse Group AG restated a sell rating and issued a $13.00 target price on shares of PetMed Express in a research note on Tuesday, August 16th.
Shares of PetMed Express (NASDAQ:PETS) traded up 0.44% on Tuesday, hitting $20.50. 12,465 shares of the company’s stock were exchanged. The stock has a market cap of $413.69 million, a price-to-earnings ratio of 19.52 and a beta of 1.13. The company’s 50-day moving average price is $20.35 and its 200 day moving average price is $19.08. PetMed Express has a 12-month low of $15.61 and a 12-month high of $21.16.
PetMed Express (NASDAQ:PETS) last released its earnings results on Monday, July 25th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. PetMed Express had a net margin of 9.09% and a return on equity of 25.97%. The company earned $72.50 million during the quarter. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that PetMed Express will post $1.11 earnings per share for the current fiscal year.
In related news, Director Ronald J. Korn sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $20.76, for a total value of $83,040.00. Following the completion of the sale, the director now owns 75,333 shares in the company, valued at $1,563,913.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Schweitzer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $20.59, for a total transaction of $61,770.00. Following the completion of the sale, the director now owns 90,334 shares of the company’s stock, valued at approximately $1,859,977.06. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in PETS. Royal Bank of Canada boosted its stake in shares of PetMed Express by 19.6% in the second quarter. Royal Bank of Canada now owns 6,423 shares of the company’s stock valued at $120,000 after buying an additional 1,053 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of PetMed Express by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 59,370 shares of the company’s stock valued at $1,114,000 after buying an additional 966 shares during the period. Arizona State Retirement System boosted its stake in shares of PetMed Express by 1.9% in the second quarter. Arizona State Retirement System now owns 10,467 shares of the company’s stock valued at $196,000 after buying an additional 200 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of PetMed Express during the second quarter worth about $178,000. Finally, Paradigm Asset Management Co. LLC boosted its position in shares of PetMed Express by 2.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 17,500 shares of the company’s stock worth $328,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 75.97% of the company’s stock.
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.
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