PetIQ (NASDAQ:PETQ) Stock Rating Lowered by William Blair

PetIQ (NASDAQ:PETQ) was downgraded by analysts at William Blair from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

Separately, Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of PetIQ in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, PetIQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

PetIQ Stock Performance

Shares of PETQ stock opened at $30.50 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.25 and a current ratio of 2.42. The company has a market capitalization of $907.44 million, a P/E ratio of 138.64 and a beta of 1.71. The company’s 50 day moving average price is $22.15 and its two-hundred day moving average price is $19.33. PetIQ has a 52 week low of $15.09 and a 52 week high of $30.54.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. The company had revenue of $308.44 million during the quarter, compared to analysts’ expectations of $302.16 million. PetIQ had a net margin of 0.66% and a return on equity of 13.33%. On average, analysts expect that PetIQ will post 1.1 earnings per share for the current fiscal year.

Insider Transactions at PetIQ

In related news, Director Scott Huff sold 12,117 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $22.19, for a total value of $268,876.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.62% of the company’s stock.

Hedge Funds Weigh In On PetIQ

Several hedge funds and other institutional investors have recently made changes to their positions in PETQ. Tributary Capital Management LLC bought a new position in shares of PetIQ in the second quarter valued at $11,414,000. Vanguard Group Inc. grew its stake in shares of PetIQ by 13.4% in the third quarter. Vanguard Group Inc. now owns 1,918,500 shares of the company’s stock valued at $37,794,000 after buying an additional 226,718 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in PetIQ during the second quarter worth $3,164,000. Dimensional Fund Advisors LP boosted its position in PetIQ by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock worth $21,461,000 after purchasing an additional 132,450 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in PetIQ by 11.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after purchasing an additional 108,870 shares during the period. 94.99% of the stock is owned by institutional investors.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.