Barclays Forecasts Strong Price Appreciation for Zoetis (NYSE:ZTS) Stock

Zoetis (NYSE:ZTS) had its target price increased by equities researchers at Barclays from $242.00 to $244.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 54.89% from the stock’s previous close.

ZTS has been the topic of several other reports. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group assumed coverage on Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. Leerink Partners assumed coverage on Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective on the stock. Morgan Stanley reduced their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Piper Sandler reduced their price objective on Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $214.90.

Zoetis Stock Performance

ZTS opened at $157.54 on Friday. The firm has a market cap of $71.07 billion, a P/E ratio of 29.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. Zoetis has a 52-week low of $144.80 and a 52-week high of $200.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The business’s fifty day moving average is $168.51 and its 200-day moving average is $178.81.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Sell-side analysts expect that Zoetis will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Zoetis

A number of hedge funds have recently made changes to their positions in the stock. Cherry Creek Investment Advisors Inc. raised its position in shares of Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock worth $590,000 after acquiring an additional 58 shares during the last quarter. Mission Wealth Management LP raised its position in shares of Zoetis by 2.0% during the fourth quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock worth $479,000 after acquiring an additional 59 shares during the last quarter. Hancock Whitney Corp raised its position in shares of Zoetis by 0.3% during the third quarter. Hancock Whitney Corp now owns 18,569 shares of the company’s stock worth $3,628,000 after acquiring an additional 61 shares during the last quarter. Strategy Asset Managers LLC raised its position in shares of Zoetis by 3.5% during the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company’s stock worth $356,000 after acquiring an additional 62 shares during the last quarter. Finally, VeraBank N.A. increased its holdings in Zoetis by 4.1% in the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock worth $254,000 after purchasing an additional 62 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.