PetMed Express (NASDAQ:PETS) Given New $3.20 Price Target at Morgan Stanley

PetMed Express (NASDAQ:PETS) had its price objective reduced by investment analysts at Morgan Stanley from $3.50 to $3.20 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 3.56% from the company’s previous close.

Separately, StockNews.com upgraded PetMed Express from a “hold” rating to a “buy” rating in a research report on Tuesday.

PetMed Express Stock Performance

PetMed Express stock opened at $3.09 on Thursday. The firm has a market capitalization of $63.83 million, a price-to-earnings ratio of 309.31 and a beta of 0.99. PetMed Express has a fifty-two week low of $2.90 and a fifty-two week high of $6.85. The stock’s fifty day moving average is $3.91 and its two-hundred day moving average is $4.48.

PetMed Express (NASDAQ:PETS) last posted its earnings results on Monday, February 10th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). PetMed Express had a net margin of 0.14% and a return on equity of 0.37%. As a group, sell-side analysts forecast that PetMed Express will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of PetMed Express by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 224,788 shares of the company’s stock worth $1,084,000 after buying an additional 3,558 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PetMed Express by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 216,812 shares of the company’s stock worth $1,045,000 after acquiring an additional 4,410 shares during the last quarter. American Century Companies Inc. boosted its position in PetMed Express by 15.3% during the fourth quarter. American Century Companies Inc. now owns 33,662 shares of the company’s stock worth $162,000 after acquiring an additional 4,459 shares during the last quarter. Squarepoint Ops LLC grew its stake in PetMed Express by 41.4% in the 4th quarter. Squarepoint Ops LLC now owns 17,686 shares of the company’s stock worth $85,000 after acquiring an additional 5,180 shares during the period. Finally, Northern Trust Corp raised its holdings in PetMed Express by 13.2% in the 4th quarter. Northern Trust Corp now owns 51,116 shares of the company’s stock valued at $246,000 after acquiring an additional 5,953 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

PetMed Express Company Profile

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.