PetIQ jumps after upbeat guidance

PetIQ

02/03/2022 17:04

** PetIQ Inc  PETQ.O  shares up 13.0% at $20.69, on track
for biggest one-day advance in nearly two years, after
direct-to-consumer veterinary firm's upbeat report
    ** Co posted record Q4 net sales of $197 mln, up 20% yr/yr,
benefiting from strong flea and tick and health and wellness
sales  urn:newsml:reuters.com:*:nGNX8v6ZQ7
    ** Co says expects to launch two new products in H1 2022 to
build on momentum in its products segment
    ** Co reintroduces annual and qtrly guidance: FY 2022 net
sales forecast of approx $985 mln tops consensus view of ~$982
mln, per Refinitiv IBES
    ** Wall Street firmly bullish on PETQ with avg rating of
"strong buy"; median PT is $34 - Refinitiv
    ** With move on Weds, shares down ~9% YTD and off ~40% over
past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))