Petco Health and Wellness (NASDAQ:WOOF) Reaches New 12-Month High – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares reached a new 52-week high on Thursday . The stock traded as high as $5.12 and last traded at $5.02, with a volume of 298746 shares trading hands. The stock had previously closed at $5.02.

Analyst Ratings Changes

WOOF has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of 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. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research report on Wednesday, September 11th. The Goldman Sachs Group decreased their price objective on 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. Royal Bank of Canada lifted their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company upped their price target on Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.45.

Petco Health and Wellness Trading Down 2.9 %

The company has a market capitalization of $1.67 billion, a P/E ratio of -1.09 and a beta of 1.92. The business has a 50 day moving average price of $3.49 and a 200 day moving average price of $2.97. 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 issued its earnings results 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 during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in Petco Health and Wellness by 2.7% in the third quarter. SG Americas Securities LLC now owns 1,099,254 shares of the company’s stock valued at $5,002,000 after buying an additional 28,695 shares in the last quarter. Ariadne Wealth Management LP acquired a new stake in Petco Health and Wellness during the second quarter worth approximately $81,000. Point72 Asset Management L.P. raised its holdings in 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 valued at $6,863,000 after acquiring an additional 1,677,179 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Petco Health and Wellness by 50.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 833,153 shares of the company’s stock valued at $3,149,000 after acquiring an additional 280,644 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Petco Health and Wellness in the second quarter worth $135,000.

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.