Petco Health and Wellness (NASDAQ:WOOF) Stock Price Expected to Rise, Wedbush Analyst Says

Petco Health and Wellness (NASDAQ:WOOF) had its target price increased by Wedbush from $5.50 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 3.81% from the company’s current price.

WOOF has been the topic of a number of other reports. Wells Fargo & Company increased their price target on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. The Goldman Sachs Group cut their target price on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Citigroup boosted their price target on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada raised their price objective on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday. One investment 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 stock has an average rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Trading Up 18.0 %

NASDAQ WOOF traded up $0.88 on Friday, reaching $5.78. The company had a trading volume of 12,163,187 shares, compared to its average volume of 4,512,207. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -1.16 and a beta of 1.89. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29. The business has a 50 day moving average of $4.59 and a two-hundred day moving average of $3.82. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24.

Petco Health and Wellness (NASDAQ:WOOF) last announced its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. Petco Health and Wellness’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. Analysts forecast that Petco Health and Wellness will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Petco Health and Wellness by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock valued at $20,994,000 after buying an additional 1,254,554 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Petco Health and Wellness by 8.7% in the third quarter. Holocene Advisors LP now owns 7,557,293 shares of the company’s stock valued at $34,386,000 after acquiring an additional 602,602 shares during the period. AQR Capital Management LLC grew its stake in 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 valued at $22,661,000 after acquiring an additional 2,953,667 shares in the last quarter. Marshall Wace LLP increased its holdings in Petco Health and Wellness by 47.3% during the 2nd quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock worth $12,857,000 after acquiring an additional 1,092,204 shares during the period. Finally, Millennium Management LLC increased its holdings 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 acquiring an additional 1,876,233 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.