Zurcher Kantonalbank Zurich Cantonalbank Takes Position in PetIQ, Inc. (NASDAQ:PETQ)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in PetIQ, Inc. (NASDAQ:PETQ) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,974 shares of the company’s stock, valued at approximately $177,000.

Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new stake in PetIQ during the fourth quarter valued at $50,000. China Universal Asset Management Co. Ltd. grew its position in shares of PetIQ by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,372 shares of the company’s stock worth $67,000 after buying an additional 2,625 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PetIQ during the 3rd quarter valued at about $113,000. Olympiad Research LP purchased a new stake in PetIQ in the third quarter worth $205,000. Finally, Raymond James & Associates purchased a new position in PetIQ during the 4th quarter valued at about $209,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their target price on PetIQ from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PetIQ presently has an average rating of “Buy” and a consensus price target of $29.00.

PetIQ Stock Performance

Shares of NASDAQ PETQ opened at $17.58 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.27 and a debt-to-equity ratio of 1.97. The firm’s 50-day moving average price is $17.06 and its 200-day moving average price is $17.99. PetIQ, Inc. has a 52-week low of $11.31 and a 52-week high of $22.98. The company has a market cap of $517.38 million, a PE ratio of 293.05 and a beta of 1.68.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.22. The company had revenue of $219.93 million for the quarter, compared to the consensus estimate of $189.70 million. PetIQ had a return on equity of 11.72% and a net margin of 0.19%. As a group, analysts anticipate that PetIQ, Inc. will post 0.94 EPS for the current year.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.