BidaskClub Downgrades PetMed Express (PETS) to Buy

PetMed Express (NASDAQ:PETS) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Friday, October 20th. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a report on Friday, October 27th. Northcoast Research set a $58.00 target price on PetMed Express and gave the company a “buy” rating in a report on Wednesday, January 3rd. ValuEngine cut PetMed Express from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $19.00 target price on shares of PetMed Express in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.80.

PetMed Express (PETS) traded up $2.67 during midday trading on Friday, reaching $53.24. The company had a trading volume of 1,490,000 shares, compared to its average volume of 420,796. PetMed Express has a 12-month low of $19.21 and a 12-month high of $53.90. The stock has a market cap of $1,096.96, a P/E ratio of 35.73, a P/E/G ratio of 3.16 and a beta of 1.12.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Monday, October 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $63.41 million. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. PetMed Express’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. equities research analysts forecast that PetMed Express will post 1.64 EPS for the current year.

In other news, CEO Menderes Akdag sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $51.00, for a total transaction of $1,530,000.00. Following the sale, the chief executive officer now owns 490,000 shares in the company, valued at $24,990,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald J. Korn sold 1,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.57, for a total value of $35,570.00. Following the sale, the director now owns 73,833 shares in the company, valued at approximately $2,626,239.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,000 shares of company stock worth $2,453,170. 4.00% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its holdings in shares of PetMed Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after purchasing an additional 27 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of PetMed Express by 50,142.9% during the third quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock worth $117,000 after purchasing an additional 3,510 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in shares of PetMed Express during the second quarter worth $162,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of PetMed Express during the third quarter worth $149,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of PetMed Express during the second quarter worth $203,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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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.

Analyst Recommendations for PetMed Express (NASDAQ:PETS)

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