Petco Health and Wellness (NASDAQ:WOOF) Trading Up 11.1% on Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price was up 11.1% during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $2.75 to $3.00. Wells Fargo & Company currently has an equal weight rating on the stock. Petco Health and Wellness traded as high as $3.46 and last traded at $3.41. Approximately 1,549,867 shares changed hands during trading, a decline of 66% from the average daily volume of 4,590,162 shares. The stock had previously closed at $3.07.

WOOF has been the topic of several other research reports. UBS Group increased their price objective on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. Citigroup boosted their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Petco Health and Wellness in a report on Thursday, May 23rd. Royal Bank of Canada lifted their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.49.

Hedge Funds Weigh In On Petco Health and Wellness

Several institutional investors have recently bought and sold shares of WOOF. Headlands Technologies LLC bought a new position in shares of Petco Health and Wellness during the 1st quarter valued at about $30,000. Norden Group LLC purchased a new position in Petco Health and Wellness during the 1st quarter valued at approximately $31,000. Caprock Group LLC purchased a new position in Petco Health and Wellness during the 2nd quarter valued at approximately $44,000. Choreo LLC bought a new stake in Petco Health and Wellness in the 2nd quarter worth approximately $45,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Petco Health and Wellness during the 1st quarter worth approximately $49,000.

Petco Health and Wellness Stock Up 30.3 %

The business has a 50-day moving average price of $3.06 and a 200 day moving average price of $2.72. The company has a current ratio of 0.85, a quick ratio of 0.21 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.24 billion, a P/E ratio of -0.74 and a beta of 1.88.

Petco Health and Wellness (NASDAQ:WOOF) last announced its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. On average, equities analysts expect that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current fiscal year.

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.