Petco Health and Wellness (NASDAQ:WOOF) Trading Up 11.1% After Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price shot up 11.1% on Wednesday after Citigroup raised their price target on the stock from $4.00 to $4.50. Citigroup currently has a neutral rating on the stock. Petco Health and Wellness traded as high as $3.46 and last traded at $3.41. 1,549,867 shares were traded during trading, a decline of 66% from the average session volume of 4,590,162 shares. The stock had previously closed at $3.07.

A number of other brokerages also recently issued reports on WOOF. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research report on Thursday, May 23rd. Wells Fargo & Company lifted their price target on Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of Petco Health and Wellness in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Petco Health and Wellness presently has an average rating of “Hold” and a consensus target price of $3.45.

Institutional Trading of Petco Health and Wellness

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in Petco Health and Wellness by 82.1% during 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 shares of Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after purchasing an additional 1,876,233 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Petco Health and Wellness during the 1st quarter valued at about $4,091,000. Point72 Asset Management L.P. raised its position in Petco Health and Wellness by 1,212.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after purchasing an additional 1,677,179 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Petco Health and Wellness by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock valued at $20,994,000 after purchasing an additional 1,254,554 shares during the last quarter.

Petco Health and Wellness Trading Up 11.3 %

The firm has a market cap of $1.41 billion, a PE ratio of -0.92 and a beta of 1.88. The firm has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $2.74. The company has a current ratio of 0.85, a quick ratio of 0.21 and a debt-to-equity ratio of 1.35.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Equities analysts forecast that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current year.

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.