PetIQ, Inc. (NASDAQ:PETQ) Expected to Announce Quarterly Sales of $259.28 Million

Posted by on Jun 9th, 2022

Analysts expect PetIQ, Inc. (NASDAQ:PETQ – Get Rating) to post sales of $259.28 million for the current quarter, according to Zacks. Five analysts have made estimates for PetIQ’s earnings, with the lowest sales estimate coming in at $255.61 million and the highest estimate coming in at $260.60 million. PetIQ reported sales of $271.01 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that PetIQ will report full-year sales of $984.42 million for the current year, with estimates ranging from $974.98 million to $988.80 million. For the next year, analysts forecast that the company will report sales of $1.06 billion, with estimates ranging from $1.04 billion to $1.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PetIQ.

PetIQ (NASDAQ:PETQ – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.25. PetIQ had a positive return on equity of 10.92% and a negative net margin of 1.56%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $269.45 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded PetIQ from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Truist Financial cut their price target on PetIQ from $35.00 to $30.00 in a research note on Tuesday, March 22nd. Oppenheimer lowered PetIQ from an “outperform” rating to a “market perform” rating in a research note on Friday, May 13th. Finally, Raymond James cut their price target on PetIQ from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, PetIQ has a consensus rating of “Buy” and an average price target of $29.20.

In other news, EVP Michael A. Smith purchased 3,600 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average cost of $14.06 per share, for a total transaction of $50,616.00. Following the completion of the transaction, the executive vice president now owns 25,491 shares of the company’s stock, valued at $358,403.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zvi Glasman acquired 5,800 shares of the stock in a transaction on Tuesday, May 24th. The shares were bought at an average cost of $13.73 per share, for a total transaction of $79,634.00. Following the purchase, the chief financial officer now directly owns 9,800 shares of the company’s stock, valued at approximately $134,554. The disclosure for this purchase can be found here. Insiders have purchased 10,800 shares of company stock valued at $149,934 in the last ninety days. Corporate insiders own 8.71% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC lifted its stake in shares of PetIQ by 1.0% in the 1st quarter. AE Wealth Management LLC now owns 48,646 shares of the company’s stock valued at $1,187,000 after purchasing an additional 483 shares during the last quarter. Byrne Asset Management LLC lifted its stake in shares of PetIQ by 44.1% in the 1st quarter. Byrne Asset Management LLC now owns 1,790 shares of the company’s stock valued at $44,000 after purchasing an additional 548 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of PetIQ by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 140,225 shares of the company’s stock valued at $3,421,000 after purchasing an additional 725 shares during the last quarter. Swiss National Bank lifted its stake in shares of PetIQ by 1.5% in the 4th quarter. Swiss National Bank now owns 54,100 shares of the company’s stock valued at $1,229,000 after purchasing an additional 800 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of PetIQ by 20.2% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,825 shares of the company’s stock valued at $132,000 after purchasing an additional 978 shares during the last quarter. 97.45% of the stock is currently owned by institutional investors.

NASDAQ PETQ opened at $16.36 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.82. PetIQ has a one year low of $13.56 and a one year high of $41.20. The stock has a 50 day moving average price of $19.27 and a 200-day moving average price of $20.59.

About PetIQ (Get Rating)

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 include 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 distributes third-party branded medications.

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