In a report released today, Brian Nagel from Oppenheimer maintained a Buy rating on Petiq Inc (PETQ), with a price target of $50. The company’s shares closed yesterday at $26.56.
Nagel commented:
“In our view, the upbeat Q4 (Dec.) results and initial 2019 guidance that Outperform- rated PetIQ (PETQ) reported yesterday, after the market close, serve as further evidence that a superior, longer-term expansion story at the company continues to take shape. Key takeaways: 1) Sales in Q4 (Dec.) and 2018 easily topped expectations, primarily as the company’s core distribution business took hold; 2) PETQ has quickly tweaked its still new service business to support a stronger and more consistent rollout; and 3) Initial 2019 guidance reflects growth of a solid base and leaves room for potentially meaningful upside.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 7.7% and a 61.2% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Advance Auto Parts.
Petiq Inc has an analyst consensus of Strong Buy, with a price target consensus of $42.67, representing a 60.7% upside. In a report issued on March 4, Raymond James also maintained a Buy rating on the stock with a $39 price target.
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Based on Petiq Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.47 million. In comparison, last year the company had a GAAP net loss of $3.27 million.
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PetIQ, Inc. is a holding company, which engages in the manufacture, procurement, packaging, and distribution of pet health and wellness products. It operates through the Domestic and International segments. The Domestic segment involves the Unites States and Canada markets. The International segment deals with Europe.
