Wedbush Increases Petco Health and Wellness (NASDAQ:WOOF) Price Target to $5.50

Petco Health and Wellness (NASDAQ:WOOF) had its price objective increased by equities researchers at Wedbush from $5.00 to $5.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 8.91% from the company’s previous close.

Several other equities research analysts have also recently issued reports on WOOF. Royal Bank of Canada lifted their price objective on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Citigroup lifted their price objective on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company lifted their price objective on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group cut their target price on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.49.

Petco Health and Wellness Stock Performance

NASDAQ WOOF traded up $0.47 on Friday, reaching $5.05. 1,830,867 shares of the stock were exchanged, compared to its average volume of 4,684,632. Petco Health and Wellness has a one year low of $1.41 and a one year high of $5.94. The firm has a market capitalization of $1.58 billion, a PE ratio of -1.02 and a beta of 1.92. The company’s 50-day simple moving average is $3.90 and its two-hundred day simple moving average is $3.18. The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 1.39.

Petco Health and Wellness (NASDAQ:WOOF) last released its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts expect that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Petco Health and Wellness by 0.4% during the second quarter. SG Americas Securities LLC now owns 1,070,559 shares of the company’s stock worth $4,047,000 after buying an additional 4,052 shares during the period. Norden Group LLC boosted its stake in Petco Health and Wellness by 31.7% during the second quarter. Norden Group LLC now owns 17,860 shares of the company’s stock worth $68,000 after buying an additional 4,301 shares during the period. HB Wealth Management LLC boosted its stake in shares of Petco Health and Wellness by 21.6% during the second quarter. HB Wealth Management LLC now owns 25,949 shares of the company’s stock valued at $98,000 after purchasing an additional 4,615 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Petco Health and Wellness by 12.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,290 shares of the company’s stock valued at $104,000 after purchasing an additional 4,836 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of Petco Health and Wellness during the second quarter valued at $44,000.

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.