Oppenheimer & Co. Inc. acquired a new stake in shares of PetIQ Inc (NASDAQ:PETQ) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 6,549 shares of the company’s stock, valued at approximately $216,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PETQ. PNC Financial Services Group Inc. boosted its position in PetIQ by 115.3% in the first quarter. PNC Financial Services Group Inc. now owns 947,727 shares of the company’s stock valued at $29,768,000 after buying an additional 507,524 shares during the last quarter. Janus Henderson Group PLC boosted its position in PetIQ by 32.1% in the second quarter. Janus Henderson Group PLC now owns 973,191 shares of the company’s stock valued at $32,076,000 after buying an additional 236,405 shares during the last quarter. Calamos Advisors LLC purchased a new stake in PetIQ in the second quarter valued at approximately $5,574,000. Boston Partners purchased a new stake in PetIQ in the first quarter valued at approximately $3,108,000. Finally, Redwood Investments LLC boosted its position in PetIQ by 19.0% in the first quarter. Redwood Investments LLC now owns 451,152 shares of the company’s stock valued at $14,171,000 after buying an additional 72,099 shares during the last quarter. Hedge funds and other institutional investors own 91.80% of the company’s stock.
NASDAQ PETQ traded down $0.11 during trading hours on Friday, reaching $26.90. The stock had a trading volume of 9,276 shares, compared to its average volume of 386,504. The stock has a fifty day moving average of $32.04 and a 200 day moving average of $30.65. The stock has a market cap of $781.75 million, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.03 and a beta of 2.09. PetIQ Inc has a 52-week low of $21.29 and a 52-week high of $43.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 2.97.
PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.35. PetIQ had a return on equity of 10.17% and a net margin of 0.68%. The business had revenue of $220.60 million for the quarter, compared to analyst estimates of $193.89 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities research analysts forecast that PetIQ Inc will post 1.07 EPS for the current year.
In other PetIQ news, insider Will Santana sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $34.07, for a total value of $681,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 80,000 shares of company stock worth $2,639,000. Insiders own 23.79% of the company’s stock.
A number of equities research analysts recently commented on the company. ValuEngine lowered PetIQ from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub lowered PetIQ from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Guggenheim assumed coverage on PetIQ in a research report on Thursday, May 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.33.
PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes 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.
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