Wall Street Zen Downgrades PetMed Express (NASDAQ:PETS) to Sell

PetMed Express (NASDAQ:PETS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on PETS. Zacks Research raised shares of PetMed Express from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings restated a “sell (d)” rating on shares of PetMed Express in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, PetMed Express has a consensus rating of “Sell” and a consensus price target of $3.20.

PetMed Express Stock Performance

PetMed Express stock opened at $2.51 on Friday. PetMed Express has a 52 week low of $2.42 and a 52 week high of $6.85. The stock has a market capitalization of $52.76 million, a P/E ratio of -8.37 and a beta of 0.73. The stock has a fifty day moving average of $2.82 and a 200-day moving average of $3.24.

PetMed Express (NASDAQ:PETS) last released its earnings results on Tuesday, October 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.60). The business had revenue of $46.47 million during the quarter. PetMed Express had a negative net margin of 2.76% and a negative return on equity of 6.76%. On average, research analysts forecast that PetMed Express will post 0.19 earnings per share for the current year.

Insider Activity at PetMed Express

In other news, major shareholder Silvercape Investments Ltd acquired 101,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $3.17 per share, for a total transaction of $320,170.00. Following the completion of the transaction, the insider directly owned 2,579,696 shares in the company, valued at $8,177,636.32. This represents a 4.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On PetMed Express

Several large investors have recently added to or reduced their stakes in PETS. Oxford Asset Management LLP bought a new stake in PetMed Express in the second quarter valued at $55,000. Bridgeway Capital Management LLC increased its position in PetMed Express by 96.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 40,800 shares of the company’s stock valued at $135,000 after buying an additional 20,000 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in PetMed Express during the 2nd quarter worth approximately $51,000. Truffle Hound Capital LLC acquired a new position in PetMed Express during the 2nd quarter worth approximately $399,000. Finally, R Squared Ltd bought a new position in PetMed Express in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.