PetMed Express, Inc. (PETS) Given “Underperform” Rating at Credit Suisse Group
Credit Suisse Group reaffirmed their underperform rating on shares of PetMed Express, Inc. (NASDAQ:PETS) in a report published on Monday morning. They currently have a $19.00 price target on the stock.
PETS has been the topic of a number of other reports. Northcoast Research raised PetMed Express from a neutral rating to a buy rating and set a $54.00 price objective on the stock in a report on Monday, July 24th. Noble Financial reissued a hold rating on shares of PetMed Express in a report on Wednesday, July 26th. Craig Hallum reissued a hold rating and issued a $40.00 target price (down previously from $43.00) on shares of PetMed Express in a research report on Monday, August 21st. They noted that the move was a valuation call. BidaskClub cut shares of PetMed Express from a strong-buy rating to a buy rating in a research report on Tuesday, August 22nd. Finally, Sidoti upgraded shares of PetMed Express from a neutral rating to a buy rating and set a $47.00 price target on the stock in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. PetMed Express presently has an average rating of Hold and an average price target of $39.60.
PetMed Express (NASDAQ PETS) opened at 34.675 on Monday. The stock’s 50 day moving average price is $37.60 and its 200-day moving average price is $34.59. PetMed Express has a one year low of $18.90 and a one year high of $50.90. The firm has a market capitalization of $703.63 million, a price-to-earnings ratio of 26.673 and a beta of 1.03.
PetMed Express (NASDAQ:PETS) last announced its earnings results on Monday, July 24th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. The company had revenue of $79.66 million for the quarter, compared to analyst estimates of $77.32 million. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts expect that PetMed Express will post $1.44 EPS for the current fiscal year.
In other news, Director Robert C. Schweitzer sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.18, for a total transaction of $122,950.00. Following the completion of the sale, the director now directly owns 88,834 shares in the company, valued at approximately $4,368,856.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.18, for a total value of $342,879.94. Following the sale, the chief financial officer now owns 18,534 shares of the company’s stock, valued at $930,036.12. The disclosure for this sale can be found here. Insiders have sold 19,333 shares of company stock worth $949,730 in the last three months. 4.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its position in shares of PetMed Express by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after purchasing an additional 27 shares during the period. Acrospire Investment Management LLC acquired a new position in PetMed Express in the second quarter valued at about $110,000. Fred Alger Management Inc. acquired a new position in PetMed Express in the second quarter valued at about $162,000. State of Alaska Department of Revenue raised its stake in PetMed Express by 76.7% in the second quarter. State of Alaska Department of Revenue now owns 4,028 shares of the company’s stock valued at $163,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in PetMed Express in the second quarter valued at about $203,000. 78.91% of the stock is currently owned by institutional investors.
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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