PetMed Express Impresses

Tags: pets
9 Jan 2:41am
Posted by ZacksResearch
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PetMed Express, Inc. (PETS) based in Pompano Beach, Florida, is a leading nationwide pet pharmacy. The company's sales trends remain strong, despite the difficult economic environment. What's more, a healthy repeat customer business has allowed management to cut operating expenses without hurting its overall sales growth. As a result, PetMed has posted impressive profit margin gains.

Going forward, we expect these sales trends to continue. We think the company can increase its operating profit margin to 15.4% in 2009 and 15.8% in 2010, up from 13.7% in fiscal 2007. All told, we rate PetMed Express a Buy with six-month target price of $21, which is about 190x our fiscal 2010 EPS estimate.

Read the full analyst report on PETS




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