Occidental Asset Management LLC Takes Position in PetIQ Inc (NASDAQ:PETQ)

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Occidental Asset Management LLC purchased a new position in shares of PetIQ Inc (NASDAQ:PETQ) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,000 shares of the company’s stock, valued at approximately $1,254,000. Occidental Asset Management LLC owned about 0.16% of PetIQ as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can purchased a new position in PetIQ during the 2nd quarter worth $53,000. US Bancorp DE increased its holdings in PetIQ by 461.5% during the 2nd quarter. US Bancorp DE now owns 2,246 shares of the company’s stock worth $74,000 after purchasing an additional 1,846 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of PetIQ in the 2nd quarter valued at $80,000. Oppenheimer & Co. Inc. purchased a new position in shares of PetIQ in the 2nd quarter valued at $216,000. Finally, Bluestein R H & Co. purchased a new position in shares of PetIQ in the 2nd quarter valued at $231,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Will Santana sold 10,000 shares of PetIQ stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.34, for a total transaction of $323,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.79% of the stock is currently owned by company insiders.

Shares of PETQ stock opened at $23.22 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.97 and a debt-to-equity ratio of 0.33. The stock has a market cap of $746.19 million, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.99 and a beta of 2.01. PetIQ Inc has a 52-week low of $21.29 and a 52-week high of $36.33. The business has a 50-day simple moving average of $26.04 and a 200-day simple moving average of $29.64.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.35. PetIQ had a net margin of 0.68% and a return on equity of 10.17%. The firm had revenue of $220.60 million during the quarter, compared to the consensus estimate of $193.89 million. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. Sell-side analysts anticipate that PetIQ Inc will post 1.07 earnings per share for the current fiscal year.

PETQ has been the topic of a number of analyst reports. ValuEngine downgraded PetIQ from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut PetIQ from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, BidaskClub cut PetIQ from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.25.

PetIQ Profile

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

Further Reading: Oversold

Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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