Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down to $3.78

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $3.78, but opened at $3.67. Petco Health and Wellness shares last traded at $3.46, with a volume of 1,467,169 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on WOOF. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. Citigroup decreased their price objective on Petco Health and Wellness from $2.85 to $1.75 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Robert W. Baird reduced their target price on Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Evercore ISI lowered their price target on Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a report on Friday, March 15th. Finally, Royal Bank of Canada increased their price objective on shares of Petco Health and Wellness from $2.70 to $3.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.09.

Petco Health and Wellness Stock Performance

The business has a 50-day moving average price of $2.88 and a 200-day moving average price of $2.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.21 and a current ratio of 0.85.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. Sell-side analysts expect that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cameron Breitner bought 750,000 shares of Petco Health and Wellness stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $3.14 per share, with a total value of $2,355,000.00. Following the completion of the acquisition, the director now directly owns 750,000 shares of the company’s stock, valued at $2,355,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Petco Health and Wellness

A number of hedge funds have recently modified their holdings of WOOF. Jacobs Levy Equity Management Inc. purchased a new stake in Petco Health and Wellness during the 1st quarter valued at about $4,091,000. Price T Rowe Associates Inc. MD grew its position in shares of Petco Health and Wellness by 12.0% in 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Petco Health and Wellness in the first quarter valued at approximately $150,000. Gabelli Funds LLC lifted its position in Petco Health and Wellness by 108.6% during the first quarter. Gabelli Funds LLC now owns 73,000 shares of the company’s stock worth $166,000 after buying an additional 38,000 shares in the last quarter. Finally, Delap Wealth Advisory LLC acquired a new position in Petco Health and Wellness during the first quarter worth $49,000.

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.