PetIQ Inc’s (PETQ) Lock-Up Period To Expire Tomorrow
PetIQ’s (NASDAQ:PETQ) lock-up period will expire on Wednesday, January 17th. PetIQ had issued 6,250,000 shares in its IPO on July 21st. The total size of the offering was $100,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Several equities research analysts recently commented on PETQ shares. Jefferies Group upped their target price on PetIQ from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded PetIQ from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.83.
Shares of PetIQ (NASDAQ PETQ) opened at $23.50 on Tuesday. PetIQ has a 52-week low of $17.03 and a 52-week high of $28.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 6.83. The company has a market capitalization of $505.03 and a PE ratio of -87.04.
PetIQ (NASDAQ:PETQ) last announced its earnings results on Monday, November 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.14 by $0.15. research analysts forecast that PetIQ will post 0.76 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. bought a new stake in shares of PetIQ during the 3rd quarter valued at about $131,000. Wells Fargo & Company MN bought a new stake in shares of PetIQ during the 3rd quarter valued at about $204,000. California State Teachers Retirement System bought a new stake in shares of PetIQ during the 3rd quarter valued at about $320,000. Schwab Charles Investment Management Inc. bought a new stake in shares of PetIQ during the 3rd quarter valued at about $344,000. Finally, New York State Common Retirement Fund acquired a new position in PetIQ during the 3rd quarter worth approximately $448,000. Institutional investors own 56.49% of the company’s stock.
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PetIQ, Inc is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield.
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