William Blair Weighs in on PetIQ’s FY2018 Earnings (PETQ)

PetIQ (NASDAQ:PETQ) – Equities research analysts at William Blair boosted their FY2018 earnings estimates for PetIQ in a note issued to investors on Wednesday, May 16th. William Blair analyst J. Andersen now anticipates that the company will post earnings of $0.82 per share for the year, up from their prior forecast of $0.68.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Tuesday, May 15th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. PetIQ had a net margin of 0.17% and a return on equity of 11.39%. The firm had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $108.54 million. The firm’s quarterly revenue was up 71.8% on a year-over-year basis.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of PetIQ from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, March 16th. BidaskClub raised shares of PetIQ from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. Finally, Jefferies Group reaffirmed a “buy” rating and set a $31.00 price target on shares of PetIQ in a research note on Wednesday, April 11th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.00.

PetIQ opened at $18.25 on Friday, MarketBeat Ratings reports. PetIQ has a 12 month low of $19.88 and a 12 month high of $22.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.35 and a quick ratio of 3.56.

In other PetIQ news, CFO John Newland sold 5,500 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $24.83, for a total value of $136,565.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mccord Christensen sold 40,000 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $996,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,500 shares of company stock valued at $1,657,765. 45.26% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in PetIQ by 64.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after buying an additional 2,669 shares during the period. TIAA CREF Investment Management LLC boosted its position in PetIQ by 9.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 37,750 shares of the company’s stock valued at $824,000 after buying an additional 3,152 shares during the period. Schwab Charles Investment Management Inc. boosted its position in PetIQ by 29.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,400 shares of the company’s stock valued at $437,000 after buying an additional 3,700 shares during the period. Keeler Thomas Management LLC purchased a new stake in shares of PetIQ in the 4th quarter worth approximately $131,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of PetIQ in the 3rd quarter worth approximately $204,000. 39.35% of the stock is owned by institutional investors.

PetIQ Company Profile

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It 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.

Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply