PetMed Express (NASDAQ:PETS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of PetMed Express (NASDAQ:PETS) from a hold rating to a buy rating in a research report released on Tuesday morning.

Separately, Lake Street Capital reaffirmed a “hold” rating and issued a $3.50 price objective (down from $7.00) on shares of PetMed Express in a report on Wednesday, August 7th.

PetMed Express Price Performance

Shares of PETS stock opened at $4.70 on Tuesday. The business has a fifty day moving average of $4.04 and a 200 day moving average of $3.93. PetMed Express has a 1 year low of $2.90 and a 1 year high of $7.93. The firm has a market capitalization of $97.10 million, a price-to-earnings ratio of -78.33 and a beta of 0.68.

PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.17. PetMed Express had a negative return on equity of 1.00% and a negative net margin of 0.37%. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $66.02 million. As a group, equities research analysts expect that PetMed Express will post 0.24 earnings per share for the current year.

Insider Activity at PetMed Express

In other news, major shareholder Nina Capital Holdings Inc. purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $3.34 per share, for a total transaction of $41,750.00. Following the completion of the transaction, the insider now owns 2,078,000 shares in the company, valued at $6,940,520. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of PetMed Express in the 2nd quarter valued at about $34,000. SG Americas Securities LLC acquired a new stake in PetMed Express in the second quarter valued at approximately $46,000. Marshall Wace LLP purchased a new stake in shares of PetMed Express in the second quarter valued at approximately $46,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of PetMed Express during the 1st quarter worth approximately $61,000. Finally, Legacy Advisors LLC acquired a new position in shares of PetMed Express during the 2nd quarter worth approximately $96,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About PetMed Express

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and household pet supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.