PetIQ (NASDAQ:PETQ) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “PetIQ, Inc. is a pet medication and wellness company. Its product consists of Rx Medications, OTC Medications and Supplies, Health and Wellness Products. The Company serves retail stores across the mass, club, grocery, pharmacy and e-commerce channels. PetIQ, Inc. is based in Eagle, United States. “

Several other research analysts have also recently commented on PETQ. BidaskClub cut shares of PetIQ from a “hold” rating to a “sell” rating in a report on Saturday, September 7th. ValuEngine cut shares of PetIQ from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.25.

Shares of PETQ opened at $25.60 on Wednesday. PetIQ has a one year low of $21.29 and a one year high of $36.33. The company has a 50-day moving average of $28.33 and a two-hundred day moving average of $30.47. The stock has a market cap of $762.56 million, a price-to-earnings ratio of 20.48, a PEG ratio of 1.01 and a beta of 2.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.97 and a quick ratio of 1.66.

PetIQ (NASDAQ:PETQ) last announced its earnings results on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.35 by $0.35. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. The company had revenue of $220.60 million during the quarter, compared to analysts’ expectations of $193.89 million. During the same period last year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts anticipate that PetIQ will post 1.07 earnings per share for the current year.

In other news, insider Will Santana sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $31.68, for a total value of $316,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 40,000 shares of company stock valued at $1,357,200 over the last three months. 23.79% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of PetIQ in the second quarter worth approximately $53,000. US Bancorp DE lifted its position in shares of PetIQ by 461.5% in the second quarter. US Bancorp DE now owns 2,246 shares of the company’s stock worth $74,000 after purchasing an additional 1,846 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of PetIQ in the second quarter worth approximately $80,000. Oppenheimer & Co. Inc. purchased a new stake in shares of PetIQ in the second quarter worth approximately $216,000. Finally, Bluestein R H & Co. purchased a new stake in shares of PetIQ in the second quarter worth approximately $231,000. 91.72% of the stock is owned by institutional investors and hedge funds.

PetIQ Company Profile

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

Further Reading: Overbought

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