Petmed Express (PETS) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Petmed Express (NASDAQ:PETS) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Petmed Express from a sell rating to a hold rating and set a $50.00 price target for the company in a report on Friday, October 20th. BidaskClub raised Petmed Express from a buy rating to a strong-buy rating in a report on Saturday, December 9th. Noble Financial reaffirmed a hold rating on shares of Petmed Express in a report on Friday, October 27th. Finally, Northcoast Research set a $58.00 price target on Petmed Express and gave the company a buy rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Petmed Express currently has a consensus rating of Hold and a consensus target price of $42.80.

Shares of Petmed Express (NASDAQ:PETS) opened at $42.87 on Wednesday. Petmed Express has a twelve month low of $19.21 and a twelve month high of $57.80. The firm has a market capitalization of $875.34, a price-to-earnings ratio of 25.37, a P/E/G ratio of 2.50 and a beta of 0.95.

Petmed Express (NASDAQ:PETS) last released its quarterly earnings results on Monday, January 22nd. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.11. Petmed Express had a return on equity of 34.04% and a net margin of 12.84%. The firm had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $56.76 million. During the same period last year, the firm posted $0.24 EPS. The business’s revenue was up 13.6% on a year-over-year basis. equities research analysts predict that Petmed Express will post 1.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Petmed Express’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. Petmed Express’s dividend payout ratio (DPR) is presently 59.17%.

In other Petmed Express news, CEO Menderes Akdag sold 30,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $51.00, for a total value of $1,530,000.00. Following the transaction, the chief executive officer now directly owns 490,000 shares in the company, valued at approximately $24,990,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald J. Korn sold 5,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $48.38, for a total value of $241,900.00. Following the completion of the transaction, the director now owns 68,833 shares in the company, valued at $3,330,140.54. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock worth $3,229,500 over the last quarter. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PETS. Sei Investments Co. boosted its position in Petmed Express by 50,142.9% in the 3rd quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock valued at $117,000 after buying an additional 3,510 shares during the last quarter. LS Investment Advisors LLC boosted its position in Petmed Express by 283.5% in the 4th quarter. LS Investment Advisors LLC now owns 2,861 shares of the company’s stock valued at $130,000 after buying an additional 2,115 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in shares of Petmed Express by 118.5% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 2,950 shares of the company’s stock worth $134,000 after purchasing an additional 1,600 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Petmed Express in the 3rd quarter worth $149,000. Finally, CenterStar Asset Management LLC bought a new position in shares of Petmed Express in the 4th quarter worth $169,000. Hedge funds and other institutional investors own 97.81% of the company’s stock.

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About Petmed Express

PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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