PetMed Express (NASDAQ:PETS) Rating Reiterated by Lake Street Capital

PetMed Express (NASDAQ:PETS)‘s stock had its “hold” rating reiterated by Lake Street Capital in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $3.50 price target on the stock, down from their prior price target of $7.00. Lake Street Capital’s price objective indicates a potential upside of 13.27% from the stock’s current price.

Separately, Morgan Stanley decreased their price objective on PetMed Express from $6.50 to $3.50 and set an “underweight” rating on the stock in a report on Wednesday, June 12th.

PetMed Express Price Performance

NASDAQ:PETS traded down $0.17 during trading hours on Wednesday, hitting $3.09. The stock had a trading volume of 308,436 shares, compared to its average volume of 386,473. The firm has a market capitalization of $63.68 million, a price-to-earnings ratio of -7.92 and a beta of 0.73. PetMed Express has a one year low of $3.08 and a one year high of $12.92. The company has a 50 day simple moving average of $4.00 and a two-hundred day simple moving average of $4.58.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.30. PetMed Express had a negative net margin of 2.85% and a negative return on equity of 7.09%. The firm had revenue of $67.95 million for the quarter, compared to analyst estimates of $77.52 million. Equities research analysts anticipate that PetMed Express will post -0.28 earnings per share for the current year.

Institutional Trading of PetMed Express

A number of hedge funds have recently made changes to their positions in PETS. CWM LLC boosted its position in shares of PetMed Express by 167.5% in the 4th quarter. CWM LLC now owns 3,378 shares of the company’s stock worth $26,000 after purchasing an additional 2,115 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of PetMed Express in the 4th quarter worth approximately $36,000. SG Americas Securities LLC bought a new stake in shares of PetMed Express in the 2nd quarter worth approximately $46,000. Quest Partners LLC purchased a new position in PetMed Express in the 4th quarter worth approximately $47,000. Finally, Oak Thistle LLC purchased a new position in PetMed Express in the 1st quarter worth approximately $50,000. 73.33% of the stock is owned by institutional investors.

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 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.