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Strength Seen in PetIQ (PETQ): Can Its 9.3% Jump Turn into More Strength?
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PetIQ (PETQ - Free Report) shares rallied 9.3% in the last trading session to close at $7.77. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 34.2% loss over the past four weeks.
Shares seem to recover after declining for almost two months, that led to increase in share price of PetIQ.
This pet medications and products maker is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of -30%. Revenues are expected to be $204.52 million, down 2.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PetIQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PETQ going forward to see if this recent jump can turn into more strength down the road.
PetIQ is part of the Zacks Medical - Products industry. ICU Medical (ICUI - Free Report) , another stock in the same industry, closed the last trading session 4.5% lower at $153.33. ICUI has returned -2.8% in the past month.
For ICU Medical, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.41. This represents a change of -31.9% from what the company reported a year ago. ICU Medical currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in PetIQ (PETQ): Can Its 9.3% Jump Turn into More Strength?
PetIQ (PETQ - Free Report) shares rallied 9.3% in the last trading session to close at $7.77. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 34.2% loss over the past four weeks.
Shares seem to recover after declining for almost two months, that led to increase in share price of PetIQ.
This pet medications and products maker is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of -30%. Revenues are expected to be $204.52 million, down 2.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PetIQ, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PETQ going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PetIQ is part of the Zacks Medical - Products industry. ICU Medical (ICUI - Free Report) , another stock in the same industry, closed the last trading session 4.5% lower at $153.33. ICUI has returned -2.8% in the past month.
For ICU Medical, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.41. This represents a change of -31.9% from what the company reported a year ago. ICU Medical currently has a Zacks Rank of #5 (Strong Sell).