The stock of PetIQ Inc. (NASDAQ:PETQ) increased by $0.75 on Friday to finish at $19.08, up 4.09 percent. The last five days have seen an average of 681,480 shares of common stock traded. 35 times new highs were reached in the current year, with a gain of $9.86. The average number of shares traded over the last 20 days was 303,460, while the average volume over the last 50 days totaled 235,664.
PETQ stock appreciated 22.78% since last month. On 07/13/23, the company’s shares reached a one-month low of $15.28. The stock touched a high of $20.22 on 08/09/23, after rallying from a low of $6.66 in 52 weeks. The price of PETQ stock has risen by 106.94% or $9.86 this year, reaching a new high 35 times. Still, the stock price is down -5.61% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
PETQ stock investors should be aware that PetIQ Inc. (PETQ) stock had its last reported insider trading activity 341 days ago on Sep 07. On Sep 07, GENERAL COUNSEL AND SECRETARY Herrman Robert Michael acquired 1,376 shares at $10.90 each. This transaction resulted in the insider spending $14,998. On Sep 06, Smith Michael A added 10,000 shares at a price of US$9.71. After the transaction, the insider now owns 38,155 shares.
Valuation Metrics
Beta for the stock is 1.93. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.58, the price-to-book (PB) ratio of 2.51, and the price-to-cash flow ratio of 14.96.
Financial Health
For the three months ended June 29, PetIQ Inc.’s quick ratio was 1.30, while its current ratio was 2.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.00, and the total debt to equity ratio is 2.04. As far as profitability goes, gross margin for the trailing twelve months is 22.90% percent. PetIQ Inc.’s EBITDA margin for the year ended June 29 was 7.19%, whereas its operating margin stood at -2.20% for the same period. Based on annual data, it had gross profit of $209.66 million and revenue of $921.51 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PETQ’s return on assets (ROA) during the last 12 months has been -5.80%. There was a -3.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -21.20%.
Earnings Surprise
According to PetIQ Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $313.88 million, while revenues rose by 19.71% to $290.47 million. It was predicted that PetIQ Inc.’s quarterly earnings would be $0.46, but it ended up being $0.26, beating the consensus by 76.90%. EBITDA was $30.03 million for the quarter. At the end of PetIQ Inc.’s most recent quarter ended June 29, its liabilities totaled 647.87 million, while its total debt was $465.74 million. Equity owned by shareholders amounts to $29.42 million.
Technical Picture
Here’s a quick look at PetIQ Inc.’s (PETQ) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 78.41%, suggesting the stock is Overbought, with a 50.92% historical volatility rate.
The stochastic %K and %D were 66.60% and 76.18% respectively, while the average true range (ATR) was 0.85. Based on the 14-day stochastic reading of 73.42%, the RSI (14) reading is 76.66%. On the 9-day MACD Oscillator, the stock is at 1.31, and the 14-day reading is at 1.71.
Analyst Ratings
PetIQ Inc. (NASDAQ: PETQ) was downgraded by Oppenheimer to a a Perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned PetIQ Inc. (PETQ) an Overweight rating. PETQ is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is PETQ’s price target for the next 12 months?
The current consensus forecast for the stock is between $25.00 and $30.00, with a median target price of $27.50. In analyzing these forecasts, the average price target given by analysts for PetIQ Inc. (PETQ) is $27.50.
