PetMed Express, Inc. (NASDAQ:PETS)

beacheye (32.04) Submitted: 10/12/2006 4:38:21 PM : Start Price: $10.61 PETS Score: +8.92

Great earnings but just off the radar for some damn reason.

railfrog (64.77) Submitted: 10/11/2006 6:44:00 PM : Start Price: $10.20 PETS Score: +13.02

Up and down, ready for a little up and up. Room for growth at little cost.

wgillen (84.43) Submitted: 10/6/2006 3:54:33 PM : Start Price: $9.16 PETS Score: +22.75

Who can deny Petmed Express's efficient business model? There is no need to spread inventory in stores all over the country, because they do not have stores. All customers' needs are shipped directly to their homes for cheaper than they might find them at a competing pet store. The price is less than 20% above its 52-week low, which makes this a great value play, especially considering the value of the company calculated using a DCF model. With $0 debt, ROA and ROE at 29% and 37%, respectively, and margins close to the double-digits, this company definitely is worth looking at, especially given the room that exists for them to gain market share. Not to be overlooked, nearly 10% of the shares are held by company insiders.

njbrewer (67.44) Submitted: 10/3/2006 1:14:05 AM : Start Price: $9.07 PETS Score: +25.54

Strong growth, management has big stake in company, low price.

belikebuffet (91.15) Submitted: 9/27/2006 5:30:43 PM : Start Price: $9.61 PETS Score: +18.62

I think the stock price has come back to earth in the last 6months. While not really undervalued, I think it is at a fair price right now. If they can start buying direct from pet pharma companies in the not so distant future, expect margins to improve dramatically. They are also enjoying economies of scale on their operating costs...meaning they don't need to hire a lot of new employees to generate a lot of new sales.

pverea (68.72) Submitted: 9/26/2006 5:39:56 PM : Start Price: $9.66 PETS Score: +17.53

Great Fundamentals, Great Balance Sheet, market oversold company beacuse of Barons article stating that the business model was flawed. Great buying opportunity @ this price (10.75).

bruno77 (< 20) Submitted: 9/21/2006 7:58:34 PM : Start Price: $10.07 PETS Score: +11.68

PETS has been beat-up; great financials; continuing to acquire new customers at a high rate

staffier (51.10) Submitted: 9/20/2006 9:50:22 PM : Start Price: $9.38 PETS Score: +21.05

Sold-off big time on worries that vets would start competing on price and a Barron's article that was, in my opinion, overly-bearish. A Wedbush report that claimed Drs. Foster & Smith underprices PetMed by an average of 14% also didn't help, but I'm not sure this is entirely accurate: based on my own comparisons, PetMed is very competative when shipping is factored in (not to mention they have a price match policy). For example, 6 tablets of HeartGard run you $17 - $29 (depending on the dog's weight) at Drs. Foster & Smith, and $22.50 - $40 on PetMed. However, shipping is a whopping $9 on Drs. Foster & Smith, compared to $4 on PetMed. Further, shipping is free for orders over $39 on PetMed, but can get as high as $16 for standard ground on Drs. Foster & Smith. For rushed orderes (2nd day shipping, etc) the difference in price is similar. Here's the breakdown:

http://www.drsfostersmith.com/general.cfm?gid=315#3
http://www.1800petmeds.com/ (click on the yellow FREE SHIPPING button at the top-right of the screen)

All told, I think the negative press is overblown...I'm long.

AlNino1 (62.87) Submitted: 9/13/2006 6:57:07 PM : Start Price: $9.04 PETS Score: -24.84

See you at $7

StellatheDog (< 20) Submitted: 7/7/2006 3:49:43 AM : Start Price: $9.60 PETS Score: +13.00

Pet meds online...if only I could work the mouse!!