Last Updated: 18 Sep 2024
Executive Summary
PetIQ Inc. (PETQ) is a pet medicine and wellness company headquartered in Eagle, Idaho. The company has a market capitalization of $918.39 million and a trailing PE ratio of 83.05. PetIQ's latest stock price is $30.76, which is within its 52-week range of $15.09-$30.84. The company's financial performance has been mixed in recent quarters, with revenue growth slowing and profitability declining. However, analysts remain bullish on the company's long-term prospects, with a consensus target price of $30.50.
Company Overview
PetIQ is a leading provider of pet medications and wellness products. The company's products are sold through a network of over 10,000 veterinary clinics and pet stores. PetIQ also operates a number of its own retail stores. The company's revenue is derived from the sale of its products, as well as from the provision of services such as vaccinations and grooming.
Fundamental Analysis
PetIQ's financial performance has been mixed in recent quarters. Revenue growth has slowed, and profitability has declined. In the most recent quarter, the company reported revenue of $1134.33 million, up 4.6% year-over-year. However, net income fell 22.2% to $10.17 million. The company's gross margin also declined, from 19.3% in the prior-year quarter to 18.5% in the most recent quarter.
PetIQ's financial performance has been impacted by a number of factors, including the COVID-19 pandemic and the rising costs of raw materials. The company has also been facing increased competition from online retailers.
Technical Analysis
PetIQ's stock price has been trending lower in recent months. The stock is currently trading below its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is also below 50, indicating that the stock is oversold.
Short Term Outlook
PetIQ's stock price is likely to remain under pressure in the short term. The company's financial performance has been mixed, and the stock is trading below its moving averages. Investors should be cautious about buying the stock at current levels.
Long Term Outlook
Analysts remain bullish on PetIQ's long-term prospects. The company is a leader in the pet medicine and wellness market, and it has a strong brand. The company is also expected to benefit from the growing demand for pet products.
Analyst Recommendations
The consensus analyst rating for PetIQ is "Buy." The average analyst target price is $30.50.
