Zacks: Brokerages Set $19.00 Price Target for PetMed Express Inc. (NASDAQ:PETS)
PetMed Express Inc. (NASDAQ:PETS) has been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price objective of $19.00 for the company and are forecasting that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also given PetMed Express an industry rank of 112 out of 265 based on the ratings given to its competitors.
A number of research analysts have issued reports on PETS shares. Zacks Investment Research upgraded PetMed Express from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, July 27th. Credit Suisse Group AG reiterated a “sell” rating and set a $13.00 price target on shares of PetMed Express in a research report on Tuesday, August 16th.
In other PetMed Express news, Director Ronald J. Korn sold 4,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $20.76, for a total transaction of $83,040.00. Following the completion of the transaction, the director now owns 75,333 shares in the company, valued at approximately $1,563,913.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Menderes Akdag sold 10,000 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $20.75, for a total value of $207,500.00. Following the transaction, the chief executive officer now owns 610,000 shares of the company’s stock, valued at approximately $12,657,500. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PETS. NEXT Financial Group Inc raised its position in shares of PetMed Express by 167.2% in the second quarter. NEXT Financial Group Inc now owns 5,354 shares of the company’s stock worth $100,000 after buying an additional 3,350 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of PetMed Express by 101.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,206 shares of the company’s stock worth $116,000 after buying an additional 3,121 shares during the period. Royal Bank of Canada raised its position in shares of PetMed Express by 19.6% in the second quarter. Royal Bank of Canada now owns 6,423 shares of the company’s stock worth $120,000 after buying an additional 1,053 shares during the period. Cutler Group LP raised its position in shares of PetMed Express by 832.0% in the second quarter. Cutler Group LP now owns 7,064 shares of the company’s stock worth $132,000 after buying an additional 8,029 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of PetMed Express during the second quarter worth about $143,000. Institutional investors own 75.97% of the company’s stock.
Shares of PetMed Express (NASDAQ:PETS) opened at 20.67 on Tuesday. PetMed Express has a 52-week low of $15.61 and a 52-week high of $21.16. The company’s 50-day moving average price is $20.38 and its 200-day moving average price is $19.23. The stock has a market cap of $417.12 million, a PE ratio of 19.69 and a beta of 1.07.
PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Monday, July 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. PetMed Express had a return on equity of 25.97% and a net margin of 9.09%. The business earned $72.50 million during the quarter. During the same quarter in the prior year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts expect that PetMed Express will post $1.11 earnings per share for the current year.
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.
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