Craig Hallum Reaffirms Hold Rating for PetMed Express, Inc. (PETS)
PetMed Express, Inc. (NASDAQ:PETS)‘s stock had its “hold” rating reissued by equities researchers at Craig Hallum in a research report issued on Monday, The Fly reports. They presently have a $40.00 price target on the stock, down from their prior price target of $43.00. Craig Hallum’s target price would indicate a potential downside of 9.69% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts have also issued reports about the stock. Noble Financial restated a “hold” rating on shares of PetMed Express in a report on Wednesday, July 26th. Northcoast Research upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Wednesday, May 10th.
Shares of PetMed Express (PETS) traded down 4.0142% during mid-day trading on Monday, reaching $42.5121. The company had a trading volume of 336,729 shares. The firm has a 50-day moving average of $44.40 and a 200-day moving average of $31.08. The company has a market capitalization of $862.66 million, a P/E ratio of 32.7016 and a beta of 0.99. PetMed Express has a 12-month low of $18.90 and a 12-month high of $50.90.
PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Monday, July 24th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.07. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The business had revenue of $79.66 million during the quarter, compared to analyst estimates of $77.32 million. During the same period last year, the business posted $0.32 earnings per share. PetMed Express’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that PetMed Express will post $1.44 earnings per share for the current fiscal year.
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In other news, Director Robert C. Schweitzer sold 5,000 shares of PetMed Express stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $48.60, for a total transaction of $243,000.00. Following the completion of the transaction, the director now directly owns 83,834 shares in the company, valued at $4,074,332.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of PetMed Express stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.18, for a total transaction of $342,879.94. Following the transaction, the chief financial officer now owns 18,534 shares of the company’s stock, valued at $930,036.12. The disclosure for this sale can be found here. Insiders have sold 19,333 shares of company stock valued at $949,730 over the last quarter. Company insiders own 4.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its position in PetMed Express by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock valued at $110,000 after buying an additional 27 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in PetMed Express by 0.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,800 shares of the company’s stock valued at $199,000 after buying an additional 80 shares during the last quarter. Arizona State Retirement System raised its position in PetMed Express by 0.9% in the first quarter. Arizona State Retirement System now owns 10,667 shares of the company’s stock valued at $215,000 after buying an additional 100 shares during the last quarter. Symons Capital Management Inc. raised its position in PetMed Express by 1.2% in the second quarter. Symons Capital Management Inc. now owns 10,365 shares of the company’s stock valued at $194,000 after buying an additional 120 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in PetMed Express by 0.8% in the second quarter. Texas Permanent School Fund now owns 14,986 shares of the company’s stock valued at $608,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 79.12% of the company’s stock.
PetMed Express Company Profile
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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