We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PetIQ (PETQ) Moves 5.7% Higher: Will This Strength Last?
Read MoreHide Full Article
PetIQ (PETQ - Free Report) shares ended the last trading session 5.7% higher at $19.92. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.5% loss over the past four weeks.
PetIQ recorded a strong price increase after a recent report by William Blair highlighted management’s comments made during the company’s second-quarter 2023 earnings call in August. Per management, PetIQ’s upside potential is due in part to continued solid consumption trends across channels and categories including distributed and manufactured flea-and-tick and health-and-wellness brands, as well as ongoing recovery in services, more specifically, community clinics. Also, continued benefits from the acquisition of Rocco and Roxie in the first quarter of 2023 is also aiding the company.
This pet medications and products maker is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -80%. Revenues are expected to be $230.14 million, up 9.7% 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 belongs to the Zacks Medical - Products industry. Another stock from the same industry, Maravai LifeSciences Holdings, Inc. (MRVI - Free Report) , closed the last trading session 4.4% lower at $9.60. Over the past month, MRVI has returned -0.8%.
Maravai LifeSciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. Compared to the company's year-ago EPS, this represents a change of -100%. Maravai LifeSciences Holdings, Inc. currently boasts a Zacks Rank of #4 (Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PetIQ (PETQ) Moves 5.7% Higher: Will This Strength Last?
PetIQ (PETQ - Free Report) shares ended the last trading session 5.7% higher at $19.92. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.5% loss over the past four weeks.
PetIQ recorded a strong price increase after a recent report by William Blair highlighted management’s comments made during the company’s second-quarter 2023 earnings call in August. Per management, PetIQ’s upside potential is due in part to continued solid consumption trends across channels and categories including distributed and manufactured flea-and-tick and health-and-wellness brands, as well as ongoing recovery in services, more specifically, community clinics. Also, continued benefits from the acquisition of Rocco and Roxie in the first quarter of 2023 is also aiding the company.
This pet medications and products maker is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -80%. Revenues are expected to be $230.14 million, up 9.7% 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 belongs to the Zacks Medical - Products industry. Another stock from the same industry, Maravai LifeSciences Holdings, Inc. (MRVI - Free Report) , closed the last trading session 4.4% lower at $9.60. Over the past month, MRVI has returned -0.8%.
Maravai LifeSciences Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0. Compared to the company's year-ago EPS, this represents a change of -100%. Maravai LifeSciences Holdings, Inc. currently boasts a Zacks Rank of #4 (Sell).