StockNews.com Upgrades Petco Health and Wellness (NASDAQ:WOOF) to “Buy”

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

Several other research analysts also recently commented on the stock. Morgan Stanley increased their price objective on shares of Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Friday. Wells Fargo & Company increased their target price 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. Citigroup lifted their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada increased their price target on Petco Health and Wellness from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Petco Health and Wellness has an average rating of “Hold” and a consensus target price of $4.16.

Petco Health and Wellness Trading Down 11.1 %

WOOF stock opened at $4.71 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $6.29. The business has a 50 day simple moving average of $4.61 and a two-hundred day simple moving average of $3.86. The company 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 released its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Research analysts anticipate that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WOOF. Caprock Group LLC purchased a new stake in Petco Health and Wellness in the 2nd quarter valued at about $44,000. Choreo LLC bought a new stake in Petco Health and Wellness during the 2nd quarter valued at $45,000. Frank Rimerman Advisors LLC purchased a new position in shares of Petco Health and Wellness during the second quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Petco Health and Wellness by 253.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after acquiring an additional 8,056 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Petco Health and Wellness in the second quarter worth about $52,000.

Petco Health and Wellness Company Profile

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.