PetMed Express, Inc. (PETS) Receives $42.00 Average Target Price from Brokerages
Shares of PetMed Express, Inc. (NASDAQ:PETS) have received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.00.
PETS has been the topic of several analyst reports. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a research report on Friday, October 27th. Zacks Investment Research upgraded PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Friday, October 20th. ValuEngine cut PetMed Express from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Credit Suisse Group reiterated an “underperform” rating and set a $19.00 price target on shares of PetMed Express in a research report on Monday, October 2nd. Finally, Sidoti upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, August 24th.
Shares of PetMed Express (PETS) traded up $1.58 during trading on Friday, reaching $40.92. The company had a trading volume of 665,900 shares, compared to its average volume of 650,842. PetMed Express has a fifty-two week low of $19.21 and a fifty-two week high of $50.90. The company has a market cap of $810.57, a PE ratio of 26.40, a P/E/G ratio of 2.36 and a beta of 1.13.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Monday, October 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. The business had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $63.41 million. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. sell-side analysts expect that PetMed Express will post 1.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, November 3rd. PetMed Express’s dividend payout ratio (DPR) is 53.69%.
In related news, Director Ronald J. Korn sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the transaction, the director now directly owns 73,833 shares in the company, valued at $2,626,239.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Pinebridge Investments L.P. increased its position in shares of PetMed Express by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after purchasing an additional 27 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in PetMed Express in the second quarter worth approximately $110,000. Sei Investments Co. boosted its stake in PetMed Express by 50,142.9% in the third quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock worth $117,000 after buying an additional 3,510 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in PetMed Express in the third quarter worth approximately $149,000. Finally, Fred Alger Management Inc. purchased a new stake in PetMed Express in the second quarter worth approximately $162,000. Institutional investors own 99.91% of the company’s stock.
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About PetMed Express
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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