PetMed Express (NASDAQ:PETS) Upgraded by StockNews.com to Buy Rating

PetMed Express (NASDAQ:PETS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, Lake Street Capital reissued a “hold” rating and issued a $3.50 target price (down from $7.00) on shares of PetMed Express in a research report on Wednesday, August 7th.

PetMed Express Stock Down 4.6 %

NASDAQ PETS traded down $0.25 during trading hours on Tuesday, hitting $5.17. 218,140 shares of the company were exchanged, compared to its average volume of 345,311. The company has a 50 day moving average of $3.94 and a two-hundred day moving average of $3.91. PetMed Express has a 52-week low of $2.90 and a 52-week high of $8.27. The firm has a market cap of $106.83 million, a price-to-earnings ratio of -86.17 and a beta of 0.68.

PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.17. The business had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $66.02 million. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. On average, equities research analysts predict that PetMed Express will post 0.08 EPS for the current year.

Insider Activity at PetMed Express

In related news, major shareholder Nina Capital Holdings Inc. acquired 12,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $3.34 per share, with a total value of $41,750.00. Following the transaction, the insider now owns 2,078,000 shares of the company’s stock, valued at $6,940,520. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On PetMed Express

A number of large investors have recently modified their holdings of PETS. Point72 DIFC Ltd purchased a new position in shares of PetMed Express during the 2nd quarter worth approximately $34,000. SG Americas Securities LLC purchased a new position in shares of PetMed Express during the 2nd quarter worth approximately $46,000. Marshall Wace LLP purchased a new position in shares of PetMed Express during the 2nd quarter worth approximately $46,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of PetMed Express during the 1st quarter worth approximately $61,000. Finally, Legacy Advisors LLC purchased a new position in shares of PetMed Express during the 2nd quarter worth approximately $96,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

PetMed Express Company Profile

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.