Royal Bank of Canada Boosts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $3.50

Petco Health and Wellness (NASDAQ:WOOF) had its target price upped by Royal Bank of Canada from $3.00 to $3.50 in a research note issued to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a buy rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research report on Thursday, May 23rd. UBS Group lifted their target price on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the company a neutral rating in a research report on Thursday, May 23rd. Wedbush reiterated an outperform rating and set a $5.00 target price on shares of Petco Health and Wellness in a research report on Wednesday. Finally, Citigroup lifted their target price on shares of Petco Health and Wellness from $3.00 to $4.00 and gave the company a neutral rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $3.45.

Petco Health and Wellness Price Performance

WOOF stock opened at $4.58 on Wednesday. The firm has a 50 day moving average of $3.13 and a 200-day moving average of $2.76. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.39. Petco Health and Wellness has a 12 month low of $1.41 and a 12 month high of $4.99. The firm has a market capitalization of $1.42 billion, a P/E ratio of -0.93 and a beta of 1.88.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned ($0.01) earnings per share. Petco Health and Wellness’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WOOF. AQR Capital Management LLC raised its stake in shares of Petco Health and Wellness by 82.1% during the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock worth $22,661,000 after acquiring an additional 2,953,667 shares in the last quarter. Millennium Management LLC increased its stake in shares of Petco Health and Wellness by 233.7% in the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after buying an additional 1,876,233 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Petco Health and Wellness in the first quarter worth $4,091,000. Point72 Asset Management L.P. increased its stake in shares of Petco Health and Wellness by 1,212.7% in the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after buying an additional 1,677,179 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Petco Health and Wellness by 15.8% in the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after buying an additional 1,254,554 shares during the period.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.