Petco Health and Wellness (NASDAQ:WOOF) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Petco Health and Wellness (NASDAQ:WOOF) had its price target boosted by research analysts at Royal Bank of Canada from $5.00 to $6.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 13.42% from the stock’s previous close.

Several other analysts have also recently issued reports on WOOF. Wells Fargo & Company increased their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday. The Goldman Sachs Group cut their price objective 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. Wedbush boosted their target price on shares of Petco Health and Wellness from $5.00 to $5.50 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Citigroup raised 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 note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.16.

Petco Health and Wellness Price Performance

NASDAQ WOOF opened at $5.29 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -13.23 and a beta of 1.89. Petco Health and Wellness has a 12 month low of $1.41 and a 12 month high of $6.29. The company’s 50 day moving average is $4.61 and its two-hundred day moving average is $3.84. 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 announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate 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 firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned ($0.01) EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Petco Health and Wellness will post -0.23 earnings per share for the current year.

Institutional Trading of Petco Health and Wellness

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Petco Health and Wellness by 15.8% during the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after acquiring an additional 1,254,554 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Petco Health and Wellness by 8.7% in the 3rd quarter. Holocene Advisors LP now owns 7,557,293 shares of the company’s stock worth $34,386,000 after purchasing an additional 602,602 shares during the period. AQR Capital Management LLC increased its position in shares of 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 last quarter. Marshall Wace LLP increased its position in shares of 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 valued at $12,857,000 after purchasing an additional 1,092,204 shares during the last quarter. Finally, Millennium Management LLC raised 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 valued at $10,127,000 after buying 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.