Wedbush Issues Positive Forecast for Petco Health and Wellness (NASDAQ:WOOF) Stock Price

Petco Health and Wellness (NASDAQ:WOOF) had its price objective lifted by Wedbush from $5.50 to $6.00 in a research note published on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on WOOF. Royal Bank of Canada upped their price target on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup lifted 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 report on Thursday, September 12th. The Goldman Sachs Group cut their price target on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Stock Up 8.0 %

Shares of Petco Health and Wellness stock opened at $5.29 on Friday. Petco Health and Wellness has a 1 year low of $1.41 and a 1 year high of $6.29. The company has a 50-day moving average of $4.61 and a 200 day moving average of $3.85. The firm 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 current ratio of 0.84 and a quick ratio of 0.24.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data 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 return on equity of 5.36% and a negative net margin of 1.77%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate 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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Petco Health and Wellness by 253.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock worth $51,000 after purchasing an additional 8,056 shares in the last quarter. Caprock Group LLC bought a new stake in Petco Health and Wellness during the second quarter valued at about $44,000. Choreo LLC purchased a new stake in Petco Health and Wellness in the second quarter worth about $45,000. Quadrature Capital Ltd bought a new position in shares of Petco Health and Wellness in the third quarter worth about $58,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Petco Health and Wellness during the 2nd quarter valued at about $50,000.

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.