Petco Health and Wellness (NASDAQ:WOOF) Reaches New 1-Year High – What’s Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.94 and last traded at $5.80, with a volume of 381019 shares. The stock had previously closed at $5.77.

Analyst Upgrades and Downgrades

WOOF has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research note on Wednesday, September 11th. Wells Fargo & Company lifted their price target on Petco Health and Wellness from $2.75 to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price target on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lowered their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Citigroup boosted their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.45.

Petco Health and Wellness Trading Down 5.4 %

The company has a quick ratio of 0.24, a current ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock has a 50-day simple moving average of $3.69 and a 200 day simple moving average of $3.09.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, research analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

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

Petco Health and Wellness Company Profile

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.