Petco Health and Wellness (NASDAQ:WOOF) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Petco Health and Wellness (NASDAQ:WOOF) from a hold rating to a buy rating in a research note published on Monday.

WOOF has been the topic of several other research reports. Wedbush upped 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. Morgan Stanley lifted their target price on Petco Health and Wellness from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Friday. Royal Bank of Canada boosted their price target on Petco Health and Wellness from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company increased their price objective on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, The Goldman Sachs Group reduced their price target on shares of 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Price Performance

WOOF stock opened at $4.71 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. The firm has a 50 day moving average price of $4.61 and a 200-day moving average price of $3.86. Petco Health and Wellness has a 52-week low of $1.41 and a 52-week high of $6.29. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.76 and a beta of 1.89.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative return on equity of 5.40% and a negative net margin of 1.77%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position 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 purchasing an additional 2,953,667 shares in the last quarter. Millennium Management LLC lifted its position 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 valued at $10,127,000 after buying an additional 1,876,233 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Petco Health and Wellness by 1,212.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after acquiring an additional 1,677,179 shares during the period. Vanguard Group Inc. increased its holdings 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 worth $20,994,000 after acquiring an additional 1,254,554 shares in the last quarter. Finally, Marshall Wace LLP raised its stake 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.

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.