PetMed Express (NASDAQ: PETS)‘s stock had its “neutral” rating reaffirmed by Zacks Investment Research in a report issued on Thursday. They currently have a $ 13.00 price target on the stock.
Zacks’ analyst wrote, “The New Year has brought some cheer for PetMed, which reported $ 50.5 million as revenues during the third quarter of fiscal 2012, surpassing both the year-ago quarter and the Zacks Consensus Estimate. This was possible on the back of higher new order and reorder sales. Despite the upside in revenues, net income declined reflecting increase in cost of sales and advertising expenses. The company is also working on expanding its product portfolio to better serve its customers. Amidst a challenging advertising scenario due to the upcoming election, PetMed is banking on better efficiency and creativity to differentiate itself from others. We reiterate a Neutral recommendation on the stock.”
Separately, analysts at Bank of America (NYSE: BAC) initiated coverage on shares of PetMed Express in a research note to investors on Wednesday, December 14th. They set an “underperform” rating on the stock.
PetMed Express, Inc. and its subsidiaries, doing business as 1-800-PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs, cats, and horses direct to the consumer. The Company markets its products through national television, online, and direct mail/print advertising campaigns. PetMed offers a line of products for dogs, cats and horses. As of March 31, 2010, its product line contains approximately 750 stock keeping units (skus). These products include brands of medication, such as Frontline Plus, K9 Advantix, Advantage, Heartgard Plus, Sentinel, Interceptor, Program, Revolution, Deramaxx and Rimadyl. PetMed’s product line provides customers with a variety of selections across the health categories for dogs, cats and horses.
Shares of PetMed Express traded down 0.98% during mid-day trading on Thursday, hitting $ 12.10. PetMed Express has a 52 week low of $ 8.51 and a 52 week high of $ 16.16. The stock’s 50-day moving average is $ 10.45 and its 200-day moving average is $ 10.04. The company has a market cap of $ 243.0 million and a P/E ratio of 15.51.
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