Brokers Issue Forecasts for PetIQ Inc’s Q4 2018 Earnings (PETQ)
PetIQ Inc (NASDAQ:PETQ) – Equities researchers at Oppenheimer upped their Q4 2018 earnings estimates for shares of PetIQ in a research note issued on Wednesday, November 14th. Oppenheimer analyst B. Nagel now expects that the company will post earnings of $0.08 per share for the quarter, up from their previous estimate of $0.07. Oppenheimer has a “Outperform” rating and a $50.00 price objective on the stock.
Several other research firms also recently weighed in on PETQ. Raymond James reissued a “buy” rating and issued a $45.00 price target (up from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. CL King assumed coverage on shares of PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 price target for the company. Jefferies Financial Group reissued a “buy” rating on shares of PetIQ in a research note on Friday, August 24th. SunTrust Banks boosted their price target on shares of PetIQ to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, BidaskClub downgraded shares of PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. PetIQ has a consensus rating of “Buy” and an average target price of $41.83.
PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Tuesday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.22. The company had revenue of $131.40 million during the quarter, compared to the consensus estimate of $125.22 million. PetIQ had a negative net margin of 0.76% and a positive return on equity of 11.40%. The firm’s revenue was up 116.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS.
In other PetIQ news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $37.58, for a total value of $751,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mccord Christensen sold 160,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $5,944,000.00. The disclosure for this sale can be found here. Insiders sold 3,023,503 shares of company stock valued at $112,721,308 over the last three months. 45.26% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of PetIQ during the third quarter valued at about $135,000. Zions Bancorporation bought a new position in shares of PetIQ during the third quarter valued at about $187,000. Advisory Services Network LLC raised its stake in shares of PetIQ by 296.0% during the third quarter. Advisory Services Network LLC now owns 4,950 shares of the company’s stock valued at $195,000 after acquiring an additional 3,700 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of PetIQ during the third quarter valued at about $200,000. Finally, Cim LLC bought a new position in shares of PetIQ during the third quarter valued at about $204,000.
PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
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