Looking to Invest? Numbers Show Petcare Stocks are Your Best Bet
Reports shows an upward trend in American dollars spent on pets, and the latest stock numbers released confirm that people love spending on their pets… as much as kids!
The American Pet Products Association estimated that Americans will spend approximately $70 billion dollars on U.S. pet care. That’s billions, folks.
Forbes reports on some incredible gains in the pet care product industry. A few examples include Freshpet Inc., a natural pet food and treat company, had an increase of 52.6% in stocks. Phibro Animal Health is a pet pharmaceutical company and saw gains of 58.7% as of August 31, 2017, while Heska Corporation, a veterinary diagnostic company, saw increases of 83.2%! With stock options doubling and even quadrupling, it’s apparent that pets and the care of pets are stocks people are now watching.
Private equity firms have taken notice as well, as two big pet retailers, Petco and PetSmart, were once-public stock options and are now both private.
Analysts say that the trend is not surprising as more people are putting dollars toward their pets, and more are even delaying children in favor of ‘parenting’ pets. Some companies have recognized the pet dollars to be made and even are attempting to get into the pet action by creating robotic pets. Paro Therapeutics has a robotic baby seal that seems so lifelike they hope it will one day help sick children and patients who have dementia, much in the way a therapy dog would work.
Still, analysts believe there’s nothing that a technology company can create that replaces the heart and soul of a family pet, so they forecast continued dollars will go toward our furry family members, and in exponential rates. So if you’re looking for a safe place to put some stock dollars, hedge your bets with companies that cater to canines.