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Pawsitive Returns: Why You Should Invest in Pet Companies?
Furry friends can give peace to oneself. After a long day of hectic dateline rush. Headed back home to be greeted by your beloved munchkin cats, meowing at you. Why not replicate it to your investment portfolio? In the world of investing, opportunities often present themselves in the most unexpected places. One such realm of opportunity that has been steadily gaining traction over the years is the pet industry. While the idea of investing in pets may seem unconventional, it’s a sector that has proven itself to be resilient, recession-resistant, and, most importantly, deeply connected to our hearts.
Imagine a world where your furry friends and companions could also be your ticket to financial success. This is not a fantasy; it’s a reality for those who have recognized the potential of investing in pet companies listed on the NASDAQ stock exchange.
In this blog post, we’ll take a closer look at why you should consider investing in pet companies on the stock exchange.
We’ll explore the remarkable growth of the pet industry, delve into the factors driving this growth, and highlight some key players that have made their mark on the stock market. So, whether you’re an animal lover or a savvy investor seeking new avenues, read on to discover why the pet industry may just be the purr-fect investment opportunity you’ve been searching for.
Here are 5 pet-driven companies listed on the U.S. stock exchange.
Freshpet (NASDAQ: FRPT)
This company manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. Freshpet has been growing rapidly as more pet owners seek high-quality and healthy food for their animals. FRPT’s mission is to improve the lives of dogs and cats through the power of fresh, real food. Freshpet is one of the top holdings in the ProShares Pet Care ETF (PAWZ), which tracks the pet care industry. FRPT’s products are sold in over 22,000 stores across the U.S., Canada, and the U.K., including major retailers such as Walmart, Target, Kroger, Petco, and Petsmart.
FRPT’s stock price has also increased significantly over time. The stock had increased 38.7% in 2023 and 78.94% in the past 1 year. Technically speaking, FRPT’s MACD indicator is -0.54 and FRPT’s Williams % R (14) is -79.14, both suggesting FRPT is a Buy.
Based on Wall Street analysts, the stock is currently listed as a ‘Strong Buy’. The average price target is $90.85 with a high forecast of $103.00 and a low forecast of $77.00. The average price target represents a 24.93% change from the last price of $72.72.
PetIQ (NASDAQ: PETQ)
This company offers a range of pet health and wellness products, including veterinary services, prescription medications, vaccines, and treats. PetIQ operates through several brands, such as VetIQ, PetAction, and Betsy Farms. PetIQ aims to make pet care more accessible and affordable for pet owners.
PetIQ went public in 2017 on the NASDAQ stock exchange under the ticker symbol PETQ2. PetIQ’s mission is to make pet lives better by educating pet parents on the importance of regular veterinary care and veterinary-recommended pet products. PetIQ’s vision is to be the leading solutions provider in the rapidly expanding pet health and wellness industry.
PETQ is currently traded at $18.90. The stock had increased 101.05% in 2023 and 97.49% in the past 1 year. Technically speaking, PETQ’s MACD indicator is 0.14, and PETQ’s Williams % R (14) is -39.60, both suggesting PETQ is a Buy.
The stock is currently listed as a ‘Strong Buy’ based on Wall Street analysts. The average price target is $27.67 with a high forecast of $30.00 and a low forecast of $25.00. The average price target represents a 46.40% change from the last price of $18.90.
Petco Health and Wellness Company (NYSE: WOFF).
Petco is a health and wellness company that focuses on enhancing the lives of pets, pet parents, and its Petco partners. Petco operates more than 1,500 pet care centers across the U.S., Mexico, and Puerto Rico, offering a range of products and services for pets. Petco also sells a wide selection of pet consumables, such as food, treats, supplements, and medications, as well as pet supplies, such as beds, bowls, collars, leashes, and toys
It went public again in 2002 and was taken private again in 2006 by the same investors. In January 2021, Petco returned to the public market for the third time with an initial public offering (IPO) on the NASDAQ stock exchange under the ticker symbol WOOF.
WOOF is currently traded at $4.06. The stock had dropped -55.86% in 2023 and -71.88% in the past 1 year. Technically speaking, WOOF’s MACD indicator is -0.69 and WOOF’s CCI (14) is -120.96, both suggesting WOOF is a Sell while WOOF’s Williams % R (14) is -100, suggesting WOOF is a Buy.
The stock is currently listed as a ‘Strong Buy’ based on Wall Street analysts. The average price target is $7.14 with a high forecast of $10.00 and a low forecast of $5.00. The average price target represents a 75.86% change from the last price of $4.06.
Chewy (NYSE: CHWY)
This company is the leading online retailer of pet food and other pet products. Chewy offers a wide selection of products, including dry and wet food, treats, toys, accessories, and medications. Chewy also provides subscription services, such as Autoship, which delivers products automatically at regular intervals, and Chewy Pharmacy, which fills prescriptions for pets.
CHWY is currently traded at $19.20. The stock had dropped -45.85% in 2023 and -46.86% in the past 1 year. Technically speaking, CHWY’s MACD indicator is -2.55, CHWY’s CCI (14) is -150.99, and CHWY’s Williams % R (14) is -99.08, suggesting CHWY is a Buy.
The stock is currently listed as a ‘Moderate Buy’ based on Wall Street analysts. The average price target is $37.89 with a high forecast of $57.00 and a low forecast of $25.00. The average price target represents a 97.34% change from the last price of $19.20.
PetMed Express (NASDAQ: PETS)
PetMed Express is a company that sells prescription and non-prescription pet medications, as well as other health products for dogs and cats. PetMed Express operates under the brand name 1-800-PetMeds, which is the largest pet pharmacy in the U.S. PetMed Express competes with both online and offline retailers of pet products.
PetMed Express’s products include various medications, such as antibiotics, anti-inflammatories, flea and tick, heartworm, pain, and allergy treatments. PetMed Express also sells supplements, dental care, grooming, and nutritional products for pets.
PETS is currently traded at $11.58. The stock had dropped -31.24% in 2023 and -39.66% in the past 1 year. PETS is rising 1.04% from the last closing date. Technically speaking, PETS’s MACD indicator is -0.31 and it’s Williams % R (14) is -2.36, both suggest PETS is a Sell.
The stock is currently listed as a ‘Hold’ based on Wall Street analysts. The average price target is $18.50 with a high forecast of $20.00 and a low forecast of $17.00. The average price target represents a 59.76% change from the last price of $11.58.
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