PetMed Express (NASDAQ:PETS) Stock Rating Upgraded by Zacks Research

PetMed Express (NASDAQ:PETS) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

PetMed Express Trading Up 2.7%

Shares of NASDAQ:PETS traded up $0.06 during midday trading on Thursday, hitting $2.30. The company had a trading volume of 61,275 shares, compared to its average volume of 78,884. PetMed Express has a 12 month low of $1.57 and a 12 month high of $4.32. The stock has a market cap of $49.22 million, a price-to-earnings ratio of -0.74 and a beta of 0.78. The firm has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.66.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.44). The business had revenue of $40.66 million for the quarter, compared to analyst estimates of $54.04 million. PetMed Express had a negative return on equity of 70.81% and a negative net margin of 35.51%. Equities analysts forecast that PetMed Express will post -2.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP acquired a new stake in shares of PetMed Express during the second quarter worth $51,000. Oxford Asset Management LLP acquired a new position in PetMed Express in the 2nd quarter worth $55,000. R Squared Ltd increased its holdings in PetMed Express by 117.8% during the 3rd quarter. R Squared Ltd now owns 22,127 shares of the company’s stock worth $56,000 after purchasing an additional 11,970 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of PetMed Express in the 3rd quarter valued at about $75,000. Finally, Jain Global LLC acquired a new stake in shares of PetMed Express in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About PetMed Express

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.