Petco Health and Wellness (NASDAQ:WOOF) Sees Unusually-High Trading Volume Following Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares saw unusually-strong trading volume on Thursday after Citigroup raised their price target on the stock from $4.00 to $4.50. Citigroup currently has a neutral rating on the stock. Approximately 2,481,232 shares were traded during trading, a decline of 47% from the previous session’s volume of 4,719,761 shares.The stock last traded at $4.59 and had previously closed at $4.08.

WOOF has been the topic of a number of other research reports. Royal Bank of Canada boosted their price target on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Petco Health and Wellness in a research report on Wednesday. UBS Group upped their price target on Petco Health and Wellness from $2.50 to $3.25 and gave the company a “neutral” rating in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Petco Health and Wellness has a consensus rating of “Hold” and a consensus price target of $3.45.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Petco Health and Wellness by 15.8% during the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock valued at $20,994,000 after acquiring an additional 1,254,554 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Petco Health and Wellness during the 1st quarter valued at $1,260,000. Norden Group LLC acquired a new stake in shares of Petco Health and Wellness in the 1st quarter valued at $309,000. Russell Investments Group Ltd. bought a new stake in Petco Health and Wellness in the first quarter worth $588,000. Finally, Wedmont Private Capital acquired a new position in Petco Health and Wellness during the second quarter worth $81,000.

Petco Health and Wellness Price Performance

The company’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $2.74. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -0.92 and a beta of 1.88. The company has a quick ratio of 0.21, a current ratio of 0.85 and a debt-to-equity ratio of 1.35.

Petco Health and Wellness (NASDAQ:WOOF) last issued 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 4.22% and a negative net margin of 21.27%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned ($0.01) EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current year.

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.