PetIQ (NASDAQ:PETQ) Shares Gap Up to $21.58

Shares of PetIQ, Inc. (NASDAQ:PETQ) gapped up before the market opened on Tuesday . The stock had previously closed at $21.58, but opened at $22.14. PetIQ shares last traded at $22.05, with a volume of 1,419 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PETQ. Jefferies Financial Group increased their price objective on shares of PetIQ from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of PetIQ in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $29.00.

PetIQ Stock Up 0.7 %

The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.25 and a current ratio of 2.42. The company has a market cap of $660.75 million, a price-to-earnings ratio of 100.23 and a beta of 1.76. The stock’s fifty day moving average is $18.86 and its two-hundred day moving average is $18.36.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, May 8th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. PetIQ had a net margin of 0.66% and a return on equity of 13.33%. The company had revenue of $308.44 million for the quarter, compared to analyst estimates of $302.16 million. Sell-side analysts predict that PetIQ, Inc. will post 1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PetIQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in PetIQ in the 4th quarter valued at about $35,000. DekaBank Deutsche Girozentrale purchased a new stake in PetIQ in the 4th quarter valued at about $50,000. FinTrust Capital Advisors LLC increased its stake in PetIQ by 50.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock valued at $48,000 after buying an additional 875 shares during the last quarter. AJOVista LLC purchased a new stake in PetIQ in the 4th quarter valued at about $65,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in PetIQ by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,372 shares of the company’s stock valued at $67,000 after buying an additional 2,625 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.