Brokers Issue Forecasts for PetIQ Inc’s Q4 2018 Earnings (PETQ)

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PetIQ Inc (NASDAQ:PETQ) – Analysts at SunTrust Banks cut their Q4 2018 earnings per share estimates for PetIQ in a research note issued on Monday, October 15th, according to Zacks Investment Research. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.14. SunTrust Banks has a “Buy” rating and a $40.00 price objective on the stock. SunTrust Banks also issued estimates for PetIQ’s Q4 2019 earnings at $0.16 EPS.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Tuesday, August 14th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The firm had revenue of $171.10 million during the quarter, compared to the consensus estimate of $148.48 million. The firm’s quarterly revenue was up 96.2% on a year-over-year basis.

A number of other brokerages also recently issued reports on PETQ. CL King started coverage on PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 target price for the company. Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PetIQ in a research note on Friday, August 24th. Finally, Oppenheimer raised their target price on PetIQ from $28.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $40.67.

Shares of PETQ traded down $0.10 during midday trading on Thursday, reaching $34.04. The company had a trading volume of 556,392 shares, compared to its average volume of 423,687. PetIQ has a 1-year low of $17.03 and a 1-year high of $43.93. The company has a market capitalization of $871.66 million, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 2.00 and a debt-to-equity ratio of 0.56.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in PetIQ during the 3rd quarter valued at about $135,000. Zions Bancorporation purchased a new position in PetIQ during the 3rd quarter valued at about $187,000. Advisory Services Network LLC boosted its holdings in PetIQ by 296.0% during the 3rd 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 period. Engineers Gate Manager LP purchased a new position in PetIQ during the 3rd quarter valued at about $200,000. Finally, Cim LLC purchased a new position in PetIQ during the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

In other news, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $68,312,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Will Santana sold 713,167 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $37.15, for a total value of $26,494,154.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,044,477 shares of company stock valued at $113,302,180. Company insiders own 45.26% of the company’s stock.

About PetIQ

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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