SunTrust Banks Brokers Decrease Earnings Estimates for PetIQ (PETQ)

PetIQ (NASDAQ:PETQ) – Research analysts at SunTrust Banks cut their Q2 2018 earnings per share (EPS) estimates for shares of PetIQ in a report released on Tuesday, May 15th. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $0.38 per share for the quarter, down from their previous estimate of $0.39. SunTrust Banks also issued estimates for PetIQ’s Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.49 EPS and Q3 2019 earnings at $0.39 EPS.

PetIQ (NASDAQ:PETQ) last released its earnings results on Tuesday, May 15th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. The business had revenue of $115.10 million for the quarter, compared to the consensus estimate of $108.54 million. PetIQ had a net margin of 0.17% and a return on equity of 11.39%. The firm’s revenue for the quarter was up 71.8% on a year-over-year basis.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of PetIQ from a “hold” rating to a “sell” rating in a research report on Wednesday. Jefferies Group reissued a “buy” rating and issued a $30.00 target price on shares of PetIQ in a research report on Wednesday. Finally, BidaskClub downgraded shares of PetIQ from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.00.

PetIQ stock opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.56 and a current ratio of 2.35. PetIQ has a fifty-two week low of $19.88 and a fifty-two week high of $22.36.

In related news, CEO Mccord Christensen sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $996,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO John Newland sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $24.83, for a total transaction of $136,565.00. The disclosure for this sale can be found here. Insiders have sold 65,500 shares of company stock worth $1,657,765 over the last ninety days. 45.26% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PETQ. Keeler Thomas Management LLC purchased a new position in PetIQ during the fourth quarter valued at approximately $131,000. The Manufacturers Life Insurance Company grew its position in PetIQ by 64.0% during the first quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock valued at $182,000 after purchasing an additional 2,669 shares in the last quarter. Wells Fargo & Company MN purchased a new position in PetIQ during the third quarter valued at approximately $204,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in PetIQ during the first quarter valued at approximately $247,000. Finally, Gotham Asset Management LLC purchased a new position in PetIQ during the fourth quarter valued at approximately $264,000. 39.35% of the stock is currently owned by hedge funds and other institutional investors.

About PetIQ

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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