According to Zacks, “PetMed exhibited a better-than-expected earnings performance in its first-quarter fiscal 2017, while revenues remained below the Zacks Consensus Estimate. We are impressed with the fact that,after a series of continued drag in new order sales, the last three quarters saw a turnaround in the number primarily on the back of more aggressive pricing. However, the still sluggish re-order sales remains a serious concern. Meanwhile, gross margin pressure continues. We are also concerned about the pressure on operating margin despite the company’s ongoing cost reduction initiatives. On the flip side, however, lesser advertising raises concerns. The company is presently trying to implement several strategies to revive its top line. These include focus on advertising efficiency to improve new order sales and shifting sales to higher margin items.”
Separately, Credit Suisse Group AG reiterated a sell rating and issued a $13.00 price objective on shares of PetMed Express in a research note on Tuesday, August 16th.
Shares of PetMed Express (NASDAQ:PETS) opened at 20.28 on Tuesday. The stock has a 50 day moving average of $20.33 and a 200 day moving average of $19.12. PetMed Express has a 1-year low of $15.61 and a 1-year high of $21.16. The stock has a market cap of $409.25 million, a PE ratio of 19.31 and a beta of 1.07.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. PetMed Express had a net margin of 9.09% and a return on equity of 25.97%. The firm earned $72.50 million during the quarter. During the same quarter last year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that PetMed Express will post $1.11 EPS for the current year.
In other PetMed Express news, insider Bruce S. Rosenbloom sold 8,000 shares of PetMed Express stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $20.38, for a total transaction of $163,040.00. Following the completion of the transaction, the insider now owns 43,267 shares in the company, valued at $881,781.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Menderes Akdag sold 10,000 shares of PetMed Express stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $20.75, for a total transaction of $207,500.00. Following the transaction, the chief executive officer now owns 610,000 shares of the company’s stock, valued at approximately $12,657,500. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PETS. Societe Generale acquired a new position in shares of PetMed Express during the second quarter worth about $2,286,000. SG Americas Securities LLC acquired a new position in shares of PetMed Express during the second quarter worth about $2,286,000. WBI Investments Inc. acquired a new position in shares of PetMed Express during the second quarter worth about $1,906,000. Royce & Associates LP boosted its position in shares of PetMed Express by 33.2% in the first quarter. Royce & Associates LP now owns 401,500 shares of the company’s stock worth $7,191,000 after buying an additional 100,000 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of PetMed Express during the second quarter worth about $1,483,000. Institutional investors own 75.97% of the company’s stock.
About PetMed Express
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.
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