In a report issued on March 11, Kevin Grundy from Jefferies upgraded Petiq Inc (PETQ) to Buy, with a price target of $37. The company’s shares opened today at $26.53.
Grundy said:
“PETQ delivered a generally strong 4Q on a >10% revs beat, while EBITDA came in modestly below consensus. Momentum in Products is evident (mid-teens growth % expected for ’19), though ramp in increasingly important Services will take longer than initially planned as PETQ optimizes roll-outs. With FY19 sales/EBITDA guide in-line, PETQ remains our top small cap growth idea. Our FY20 EBITDA est. edges 2% lower on a more conservative margin outlook, PT to $37.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 5.0% and a 60.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, Interlink Electronics, Inc., and Constellation Brands Inc.
Petiq Inc has an analyst consensus of Strong Buy, with a price target consensus of $42.67, implying a 60.8% upside from current levels. 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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The company has a one-year high of $43.93 and a one-year low of $17.56. Currently, Petiq Inc has an average volume of 361.3K.
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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.
