PetMed Express (PETS) Cut to Buy at BidaskClub

BidaskClub lowered shares of PetMed Express (NASDAQ:PETS) from a strong-buy rating to a buy rating in a report released on Friday.

PETS has been the subject of several other reports. Noble Financial reissued a hold rating on shares of PetMed Express in a report on Friday, October 27th. Zacks Investment Research raised shares of PetMed Express from a sell rating to a hold rating and set a $50.00 price objective for the company in a report on Friday, October 20th. Northcoast Research set a $58.00 price objective on shares of PetMed Express and gave the stock a buy rating in a report on Wednesday, January 3rd. ValuEngine lowered shares of PetMed Express from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reissued an underperform rating and set a $19.00 price objective on shares of PetMed Express in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. PetMed Express currently has an average rating of Hold and a consensus price target of $42.80.

Shares of PetMed Express (NASDAQ PETS) traded up $2.67 during mid-day trading on Friday, reaching $53.24. 1,485,200 shares of the company’s stock traded hands, compared to its average volume of 609,446. The firm has a market cap of $1,020.00, a price-to-earnings ratio of 35.73, a P/E/G ratio of 3.24 and a beta of 1.12. PetMed Express has a 52 week low of $19.21 and a 52 week high of $53.90.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Monday, January 22nd. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The company had revenue of $60.10 million during the quarter, compared to analyst estimates of $56.76 million. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. sell-side analysts anticipate that PetMed Express will post 1.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Monday, February 5th will be issued a $0.25 dividend. This is a positive change from PetMed Express’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. PetMed Express’s payout ratio is 53.69%.

In other news, CEO Menderes Akdag sold 30,000 shares of PetMed Express stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $51.00, for a total value of $1,530,000.00. Following the completion of the transaction, the chief executive officer now directly owns 490,000 shares of the company’s stock, valued at approximately $24,990,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald J. Korn sold 1,000 shares of PetMed Express stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.57, for a total transaction of $35,570.00. Following the completion of the transaction, the director now directly owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The disclosure for this sale can be found here. Insiders sold a total of 51,000 shares of company stock valued at $2,453,170 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PETS. Goldman Sachs Group Inc. lifted its position in PetMed Express by 120.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 157,963 shares of the company’s stock valued at $6,413,000 after purchasing an additional 86,375 shares during the last quarter. Royal Bank of Canada lifted its position in PetMed Express by 86.5% in the 2nd quarter. Royal Bank of Canada now owns 8,337 shares of the company’s stock valued at $338,000 after purchasing an additional 3,867 shares during the last quarter. Prudential Financial Inc. lifted its position in PetMed Express by 552.8% in the 3rd quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock valued at $27,330,000 after purchasing an additional 698,140 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PetMed Express by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock valued at $34,940,000 after purchasing an additional 65,932 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in PetMed Express in the 3rd quarter valued at about $2,558,000. 99.24% of the stock is owned by institutional investors and hedge funds.

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PetMed Express Company Profile

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.

Analyst Recommendations for PetMed Express (NASDAQ:PETS)

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