Petco Health and Wellness (NASDAQ:WOOF) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Petco Health and Wellness (NASDAQ:WOOF) had its target price upped by equities researchers at Morgan Stanley from $3.00 to $6.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 13.42% from the stock’s current price.

Several other analysts have also recently commented on the company. Wedbush boosted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup raised their price target 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. The Goldman Sachs Group dropped 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 research note on Thursday, September 12th. Finally, Wells Fargo & Company raised their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Petco Health and Wellness has an average rating of “Hold” and a consensus target price of $4.16.

Petco Health and Wellness Stock Performance

NASDAQ:WOOF opened at $5.29 on Friday. The company has a fifty day moving average of $4.61 and a two-hundred day moving average of $3.84. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29. The stock has a market capitalization of $1.65 billion, a PE ratio of -13.23 and a beta of 1.89. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.24 and a current ratio of 0.84.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, meeting 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 firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted ($0.01) EPS. Petco Health and Wellness’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts forecast that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOOF. Franklin Resources Inc. grew its holdings in shares of Petco Health and Wellness by 362.3% during the 3rd quarter. Franklin Resources Inc. now owns 64,850 shares of the company’s stock worth $305,000 after purchasing an additional 50,821 shares during the period. Sanctuary Advisors LLC purchased a new position in Petco Health and Wellness during the third quarter worth about $66,000. Geode Capital Management LLC boosted its stake in Petco Health and Wellness by 9.2% during the third quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company’s stock worth $10,068,000 after buying an additional 186,230 shares during the period. XTX Topco Ltd acquired a new stake in shares of Petco Health and Wellness during the third quarter valued at about $602,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Petco Health and Wellness in the 3rd quarter valued at approximately $58,000.

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.