PetMed Express (NASDAQ:PETS) Raised to Hold at Zacks Investment Research

view original post

Zacks Investment Research upgraded shares of PetMed Express (NASDAQ:PETS) from a strong sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “PetMed Express, Inc. and subsidiaries, d/b/a 1-800-PetMeds (the Company), is a leading nationwide pet pharmacy. The Company markets prescription and non-prescription pet medications, health products, and supplies for dogs and cats, direct to the consumer. The Company offers consumers an attractive alternative for obtaining pet medications in terms of convenience, price, and speed of delivery. The Company markets its products through national advertising campaigns, which aim to increase the recognition of the 1-800-PetMeds brand name, and PetMeds family of trademarks, increase traffic on its website at www.1800petmeds.com, acquire new customers, and maximize repeat purchases. The majority of the Company’s sales are to residents in the United States. The Company’s corporate headquarters and distribution facility are located in Delray Beach, Florida. “

A number of other equities research analysts also recently issued reports on PETS. Morgan Stanley initiated coverage on shares of PetMed Express in a research report on Thursday, November 18th. They issued an underweight rating and a $25.00 target price for the company. Jefferies Financial Group began coverage on PetMed Express in a report on Thursday, September 30th. They set a hold rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $30.67.

Shares of NASDAQ:PETS opened at $25.99 on Tuesday. The company’s fifty day moving average is $27.96 and its two-hundred day moving average is $28.78. The company has a market cap of $528.87 million, a P/E ratio of 20.79 and a beta of 0.54. PetMed Express has a 12-month low of $24.75 and a 12-month high of $57.00.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings results on Sunday, October 24th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). PetMed Express had a net margin of 8.86% and a return on equity of 18.44%. The business had revenue of $67.39 million for the quarter, compared to analysts’ expectations of $70.90 million. During the same quarter in the prior year, the firm posted $0.42 EPS. Analysts expect that PetMed Express will post 1.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Friday, November 5th. PetMed Express’s dividend payout ratio (DPR) is presently 96.00%.

Hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. bought a new position in shares of PetMed Express in the 3rd quarter valued at approximately $26,000. Rockefeller Capital Management L.P. bought a new position in shares of PetMed Express in the second quarter valued at approximately $32,000. Dark Forest Capital Management LP bought a new position in shares of PetMed Express in the third quarter valued at approximately $33,000. FORA Capital LLC lifted its stake in shares of PetMed Express by 156.0% in the second quarter. FORA Capital LLC now owns 1,239 shares of the company’s stock worth $39,000 after buying an additional 755 shares during the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in shares of PetMed Express during the 3rd quarter worth $50,000. 87.14% of the stock is owned by institutional investors and hedge funds.

PetMed Express Company Profile

PetMed Express, Inc engages in the provision of markets prescription and non-prescription pet medications, health products and supplies for dogs and cats. Its non-prescription medications include flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies.

See Also: Are analyst ratings accurate?

Get a free copy of the Zacks research report on PetMed Express (PETS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?