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Momentum Stock Watch: PetIQ, Inc. (PETQ)

-- Sunday, September 22, 2019, 12:32 --

Company Profile:

PetIQ, Inc. operates as a pet health and wellness company. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company offers its products primarily under the PetIQ, PetAction Plus, Advecta, PetLock Plus, and TruProfen brands. In addition, the company offers a suite of services at community clinics and wellness centers hosted at pet retailers across 39 states, including diagnostic tests, vaccinations, prescription medications, microchipping, and wellness checks. As of May 21, 2019, it operated through approximately 60,000 points of distribution across retail and e-commerce channels. The company was founded in 2010 and is headquartered in Eagle, Idaho.

Recent News:

For the second quarter of 2019, PetIQ reported net sales of $220.6 million, an increase of 29%, compared to prior year period. Net income came to $5.9 million compared to $5.4 million of 2018. It showed a 30% year-over-year increase in revenue in the second quarter of 2019.

On July 08, 2019, the company announced it has completed the previously announced acquisition of Perrigo Animal Health, a leading manufacturer of vet quality products for pet parents, from Perrigo Company plc (NYSE; TASE: PRGO) for $185 million in cash.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

PETQ’s strengths can be seen in its better profitability and strong efficiency compared with its peers. Its revenue has increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 41.98 with positive bias. We rate PetIQ, Inc. (PETQ) a STRONG BUY.

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