Petco Health and Wellness (NASDAQ:WOOF) Sets New 1-Year High After Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) reached a new 52-week high during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $3.00 to $6.00. Morgan Stanley currently has an equal weight rating on the stock. Petco Health and Wellness traded as high as $6.04 and last traded at $6.04, with a volume of 1045777 shares traded. The stock had previously closed at $4.90.

A number of other analysts have also issued reports on WOOF. Royal Bank of Canada boosted their price objective on Petco Health and Wellness from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush increased their target price on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Citigroup lifted their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Petco Health and Wellness presently has an average rating of “Hold” and a consensus price target of $4.16.

Institutional Investors Weigh In On Petco Health and Wellness

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Petco Health and Wellness by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after purchasing an additional 2,953,667 shares during the period. Millennium Management LLC grew its holdings in shares of 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. Point72 Asset Management L.P. raised its position in shares of Petco Health and Wellness by 1,212.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after acquiring an additional 1,677,179 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 1,254,554 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Petco Health and Wellness by 47.3% during the second quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock valued at $12,857,000 after purchasing an additional 1,092,204 shares in the last quarter.

Petco Health and Wellness Stock Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24. The company has a market capitalization of $1.65 billion, a PE ratio of -1.09 and a beta of 1.89. The company has a 50 day moving average of $4.59 and a two-hundred day moving average of $3.82.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share 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 business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current year.

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.