Wedbush Forecasts Strong Price Appreciation for Petco Health and Wellness (NASDAQ:WOOF) Stock

Petco Health and Wellness (NASDAQ:WOOF) had its target price increased by research analysts at Wedbush from $5.50 to $6.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 13.42% from the stock’s previous close.

A number of other research analysts have also recently issued reports on WOOF. Royal Bank of Canada raised 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. Wells Fargo & Company increased their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup lifted their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group dropped their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. 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 company’s stock. According to data from MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Performance

Shares of 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. The stock’s 50-day moving average is $4.61 and its 200 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 has a 1-year low of $1.41 and a 1-year high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting 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 posted ($0.01) earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Institutional Trading of Petco Health and Wellness

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Petco Health and Wellness by 82.1% in 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 lifted its position in Petco Health and Wellness by 233.7% during the second 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. Point72 Asset Management L.P. grew 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 buying an additional 1,677,179 shares during the period. Vanguard Group Inc. increased 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 worth $20,994,000 after acquiring an additional 1,254,554 shares in the last quarter. Finally, Marshall Wace LLP lifted its position 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 valued at $12,857,000 after acquiring an additional 1,092,204 shares during the period.

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.