Wall Street Zen Downgrades PetMed Express (NASDAQ:PETS) to Sell

PetMed Express (NASDAQ:PETS) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities research analysts also recently commented on PETS. Weiss Ratings raised shares of PetMed Express from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded PetMed Express to a “hold” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

PetMed Express Price Performance

Shares of PetMed Express stock opened at $1.83 on Friday. PetMed Express has a one year low of $1.57 and a one year high of $4.10. The business’s 50 day simple moving average is $1.91 and its two-hundred day simple moving average is $2.29. The stock has a market capitalization of $39.11 million, a P/E ratio of -1.33 and a beta of 0.76.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.40). PetMed Express had a negative return on equity of 91.69% and a negative net margin of 17.34%.The business had revenue of $41.02 million during the quarter, compared to analysts’ expectations of $71.00 million. Sell-side analysts expect that PetMed Express will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PetMed Express

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in PetMed Express during the 2nd quarter worth $1,091,000. Empowered Funds LLC grew its stake in shares of PetMed Express by 9.3% during the first quarter. Empowered Funds LLC now owns 75,024 shares of the company’s stock worth $171,000 after purchasing an additional 6,373 shares in the last quarter. Rangeley Capital LLC lifted its holdings in PetMed Express by 45.6% during the 1st quarter. Rangeley Capital LLC now owns 109,208 shares of the company’s stock worth $249,000 after buying an additional 34,208 shares during the last quarter. Sei Investments Co. boosted its position in shares of PetMed Express by 42.0% during the 1st quarter. Sei Investments Co. now owns 23,000 shares of the company’s stock worth $52,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its position in shares of PetMed Express by 13.0% during the 1st quarter. Formidable Asset Management LLC now owns 105,201 shares of the company’s stock worth $240,000 after acquiring an additional 12,141 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

PetMed Express Company Profile

PetMed Express, Inc operates as an online and catalog-based pet pharmacy and retail supplier under the 1-800-PetMeds brand name. The company distributes prescription and non‐prescription medications, nutritional supplements, flea and tick control products, and a range of pet health supplies directly to consumers. Through its licensed veterinary pharmacy in Delray Beach, Florida, PetMed Express fills orders for dogs, cats and other companion animals, offering both branded and generic products alongside its own private‐label formulations.

Founded in 1996 by Marc Puleo, PetMed Express built its business on the premise of convenience and cost savings for pet owners seeking reliable access to veterinary medications.