Petco Health and Wellness (NASDAQ:WOOF) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Petco Health and Wellness (NASDAQ:WOOF) had its target price raised by Wells Fargo & Company from $3.00 to $5.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also weighed in on WOOF. Royal Bank of Canada upped their price objective 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. Citigroup upped their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wedbush increased their price objective on Petco Health and Wellness from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group reduced their target price on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Performance

NASDAQ:WOOF opened at $5.29 on Friday. The firm’s 50-day moving average is $4.61 and its 200-day moving average is $3.85. The company has a market cap of $1.65 billion, a price-to-earnings 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 has a 52-week low of $1.41 and a 52-week high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Petco Health and Wellness had a negative return on equity of 5.36% and a negative net margin of 1.77%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Petco Health and Wellness will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WOOF. AQR Capital Management LLC boosted its position in 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 buying an additional 2,953,667 shares during the last quarter. Millennium Management LLC boosted its holdings in Petco Health and Wellness by 233.7% in the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after acquiring an additional 1,876,233 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Petco Health and Wellness by 1,212.7% in the second 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 last quarter. Vanguard Group Inc. increased its position in Petco Health and Wellness by 15.8% in the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after purchasing an additional 1,254,554 shares during the period. Finally, Marshall Wace LLP raised its holdings 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 purchasing an additional 1,092,204 shares during the last quarter.

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.