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PETQ

PetIQ

$22.81

-0.12 (-0.52%)

, WMT

Walmart

$88.30

0.23 (0.26%)

16:37
03/13/18
03/13
16:37
03/13/18
16:37

PetIQ opens 20 veterinary services clinics in Walmart locations

PetIQ (PETQ) announced the opening of 20 veterinary services clinics in Walmart (WMT)locations. This marks the beginning of PetIQ's plan to expand veterinary services to leading retailers following the acquisition of VIP Petcare in January of this year. "We are excited to announce this partnership with Walmart to open 20 veterinary clinics. The first two locations will open next week with all 20 locations to open over the next 90 days," stated Cord Christensen, PetIQ's Chairman and CEO. "I am incredibly proud of our team who in a very short period of time has leveraged our cross-functional capabilities to introduce our first VetIQ Petcare clinics. We are excited to provide pet parents and their pets a unique experience in conjunction with our retail partners." PetIQ has plans to open more than one thousand additional veterinary services clinics, in retail-partner locations, through 2023. In conjunction with the Company's core veterinary product lines, it believes that the veterinary services clinics will help drive total company net sales and adjusted EBITDA margin to more than $1Bn and 15%, respectively, by 2023. Today, PetIQ and VIP serve more than 40 retail partners representing more than 60,000 locations. The Company's plan would require opening veterinary clinics in fewer than 2% of its current retail locations. Christensen added, "We believe the combined company retail locations we serve represent a significant opportunity for us to grow our veterinary services offering. This will enable us to further achieve our mission of providing access to convenient and affordable veterinarian care for all pet owners, including those who currently cannot afford the care they need. We are very excited to participate in this high-growth and high-potential veterinary services segment." In 2017, Packaged Facts reported that pet owners spent $27Bn on veterinary services and products and project spending to reach $34B by 2021 - a market that PetIQ believes can be accessed through the VetIQ clinic model.

PETQ

PetIQ

$22.81

-0.12 (-0.52%)

WMT

Walmart

$88.30

0.23 (0.26%)

  • 13

    Mar

  • 18

    Mar

PETQ PetIQ
$22.81

-0.12 (-0.52%)

11/20/17
JEFF
11/20/17
UPGRADE
Target $26
JEFF
Buy
PetIQ upgraded to Buy from Hold at Jefferies
Jefferies analyst Kevin Grundy upgraded PetIQ to Buy saying the recent pullback in shares provides an attractive entry point. In a non-deal roadshow, management conveyed a "high degree of confidence" in the company's outlook, Grundy tells investors in a research note. He believes the short thesis that has emerged "brings little new" information.
08/15/17
08/15/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kratos Defense (KTOS) initiated with a Buy at Drexel Hamilton. 2. PetIQ (PETQ) was initiated with an Outperform at Raymond James, William Blair, and Oppenheimer, while being initiated with a Buy at SunTrust and a Hold at Jefferies. 3. Donnelley Financial Solutions (DFIN) initiated with a Neutral at JPMorgan. 4. Calyxt (CLXT) initiated with a Buy at Citi. 5. Ecolab (ECL) initiated with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/15/17
RAJA
08/15/17
INITIATION
Target $26
RAJA
Outperform
PetIQ initiated with an Outperform at Raymond James
Raymond James analyst Joseph Altobello initiated PetIQ with an Outperform and a $26 price target saying the company is poised for double digit net sales and EBITDA growth.
08/15/17
RHCO
08/15/17
INITIATION
Target $28
RHCO
Buy
PetIQ initiated with a Buy at SunTrust
SunTrust analyst William Chappell started PetIQ with a Buy rating and $28 price target. Increased customer penetration should drive "strong" growth over the next few years, the analyst contends.
WMT Walmart
$88.30

0.23 (0.26%)

03/02/18
03/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Walmart (WMT) downgraded to Perform from Outperform at Oppenheimer by analysts Rupesh Parikh and Brian Nagel, who said that while they remain "upbeat" on the retailer's strategic direction, they no longer see the case for Walmart outperformance and are "increasingly concerned" that the valuation at which shares trade could prove capped. 2. VMware (VMW) downgraded to Hold from Buy at Stifel by analyst Brad Reback, who sees "too much uncertainty" as parent Dell Technologies (DVMT) evaluates "potential business opportunities." He believes, however, that VMware continues to execute well following its "strong" Q4 results. 3. Ruth's Hospitality (RUTH) downgraded to Hold from Buy at Deutsche Bank by analyst Brett Levy, who said the company's progress and upside are largely priced in given the company's premium multiple, Levy tells investors in a research note. The analyst this morning also upgraded both Bloomin' Brands (BLMN) and Del Frisco's (DFRG) to Buy. 4. Opko Health (OPK) downgraded to Underweight from Neutral at JPMorgan by analyst Eric Joseph, who believes the company's Q4 miss raises "significant doubts" for the core diagnostics/ BRL business. He believes the stock will continue to see pressure going forward. 5. Pure Storage (PSTG) downgraded to Neutral from Positive at Susquehanna by analyst Mehdi Hosseini, who cited the lack of visibility, particularly around FlashBlade, to raise estimates from current levels, which would be necessary for the next leg of appreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/02/18
OPCO
03/02/18
DOWNGRADE
Target $93
OPCO
Perform
Oppenheimer 'no longer sees the case' for Walmart outperformance
Oppenheimer analysts Rupesh Parikh and Brian Nagel downgraded Walmart to Perform from Outperform on increasing concerns of dwindling e-commerce sales expansion and a more muted EPS growth view. Though the analysts, who cut their price target on shares to $93 from $110, remain "upbeat" on the retailer's strategic direction, they no longer see the case for Walmart outperformance and are "increasingly concerned" that the valuation at which shares trade could prove capped.
03/02/18
OPCO
03/02/18
DOWNGRADE
OPCO
Perform
Walmart downgraded to Perform from Outperform at Oppenheimer
02/26/18
02/26/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Walmart (WMT) initiated with a Neutral and Target (TGT) initiated with an Outperform at Credit Suisse. 2. Hudson (HUD) initiated with a Buy at Goldman Sachs, a Buy at UBS, an Equal Weight at Morgan Stanley and an Outperform at Credit Suisse. 3. VICI Properties (VICI) initiated with a Buy at Stifel, a Neutral at Goldman Sachs and an Equal Weight at Barclays. 4. Sage Therapeutics (SAGE) initiated with an Overweight at Morgan Stanley. 5. Sol-Gel Technologies (SLGL) initiated with a Buy at Jefferies and an Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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