Petco Health and Wellness (NASDAQ:WOOF) Shares Down 3.8% – Time to Sell?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price dropped 3.8% during trading on Friday . The company traded as low as $3.99 and last traded at $4.01. Approximately 285,937 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,455,071 shares. The stock had previously closed at $4.17.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WOOF shares. Citigroup upped their price objective 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. Wells Fargo & Company upped their price target on Petco Health and Wellness from $2.75 to $3.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Royal Bank of Canada raised their price target on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group cut 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, September 12th. Finally, Wedbush raised their target price on shares of Petco Health and Wellness from $5.00 to $5.50 and gave the company an “outperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.49.

Petco Health and Wellness Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.84 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $4.60 and its two-hundred day moving average is $3.67. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -0.84 and a beta of 1.92.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The company 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 business earned ($0.01) EPS. Petco Health and Wellness’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current year.

Institutional Trading of Petco Health and Wellness

A number of hedge funds have recently made changes to their positions in WOOF. Geode Capital Management LLC increased its holdings in shares of Petco Health and Wellness by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company’s stock worth $10,068,000 after acquiring an additional 186,230 shares during the last quarter. XTX Topco Ltd bought a new position in Petco Health and Wellness during the third quarter worth $602,000. Quadrature Capital Ltd acquired a new position in shares of Petco Health and Wellness in the third quarter valued at $58,000. Point72 DIFC Ltd bought a new position in shares of Petco Health and Wellness in the third quarter valued at about $118,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Petco Health and Wellness during the 3rd quarter worth about $2,747,000.

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.