Petiq Inc (PETQ) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Brian Nagel maintained a Buy rating on Petiq Inc (PETQ) today and set a price target of $50. The company’s shares closed yesterday at $31.27.

Nagel observed:

“We look upon the Q3 (Sep.) results and updated 2018 guidance that PetIQ reported after the market close on Tues. (Nov. 13th) as another significant step in the right direction for the company. In Q3 (Sep.), the company’s core products business continued to perform well, posting sales growth of nearly 80%, while the company’s initial service clinics are tracking nicely, encouraging management to potentially accelerate its ramp of locations in coming years. PETQ represents a unique and distributive business model within the healthy and expansive pet sector. Quarter- to-quarter progress at the company is unlikely to prove linear. We are, however, increasingly confident in the substantial longer-term sales and profit potential of the model.”

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 5.6% and a 58.3% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Dick’s Sporting Goods, and Advance Auto Parts.

Petiq Inc has an analyst consensus of Strong Buy, with a price target consensus of $44.20.

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Based on Petiq Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.5 million. In comparison, last year the company had a GAAP net loss of $226K.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.

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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.

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