Petiq (PETQ) Gets a Buy Rating from Raymond James


In a report released yesterday, Joseph Altobello from Raymond James reiterated a Buy rating on Petiq (PETQ), with a price target of $45.00. The company’s shares closed last Thursday at $43.17, close to its 52-week high of $45.92.

According to TipRanks.com, Altobello is a 5-star analyst with an average return of 21.2% and a 67.5% success rate. Altobello covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, MasterCraft Boat Holdings, and Acushnet Holdings.

Currently, the analyst consensus on Petiq is a Strong Buy with an average price target of $41.09, which is a -8.7% downside from current levels. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $50.00 price target.

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Petiq’s market cap is currently $1.2B and has a P/E ratio of -13.70. The company has a Price to Book ratio of -6.78.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PETQ in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 Products and Services segments. The Products segments produces and distributes pet medication and health and wellness products to the retail channel. The Services segment represents all veterinary services, and related product sales provided by the firm directly to consumers. Its brands include Advecta, Betsy Farms, Delightibles, Tex Ranch, Mimis Market, and PetLock. The company was founded by McCord Christensen in 2010 and is headquartered in Eagle, ID.

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