PetIQ (PETQ) Rating Increased to Buy at BidaskClub
BidaskClub upgraded shares of PetIQ (NASDAQ:PETQ) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.
A number of other equities analysts also recently commented on PETQ. Jefferies Group reissued a buy rating and issued a $27.00 target price on shares of PetIQ in a research note on Monday, January 8th. Zacks Investment Research raised shares of PetIQ from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Tuesday, January 9th. Eight analysts have rated the stock with a buy rating, PetIQ currently has a consensus rating of Buy and a consensus price target of $27.50.
PETQ stock opened at $25.06 on Wednesday. PetIQ has a one year low of $17.03 and a one year high of $28.23. The company has a current ratio of 5.99, a quick ratio of 3.56 and a debt-to-equity ratio of 0.17.
A number of institutional investors have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC purchased a new stake in PetIQ during the 4th quarter worth $264,000. Park West Asset Management LLC bought a new stake in shares of PetIQ in the 4th quarter worth about $19,527,000. Harvest Capital Strategies LLC increased its position in shares of PetIQ by 60.9% in the 4th quarter. Harvest Capital Strategies LLC now owns 508,595 shares of the company’s stock worth $11,108,000 after purchasing an additional 192,548 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of PetIQ by 9.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 37,750 shares of the company’s stock worth $824,000 after purchasing an additional 3,152 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in shares of PetIQ in the 4th quarter worth about $452,000. 40.36% of the stock is currently owned by hedge funds and other institutional investors.
PetIQ Company Profile
PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.
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