Petco Health and Wellness (NASDAQ:WOOF) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Petco Health and Wellness (NASDAQ:WOOF) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Petco Health and Wellness is a fully-integrated health and wellness company for pets. They offer premium products, services and veterinary care. “

A number of other brokerages have also recently issued reports on WOOF. Evercore ISI restated a buy rating on shares of Petco Health and Wellness in a report on Sunday, August 22nd. Citigroup cut their price target on shares of Petco Health and Wellness from $33.00 to $29.00 and set a buy rating on the stock in a research note on Friday, November 19th. Jefferies Financial Group lowered shares of Petco Health and Wellness from a buy rating to a hold rating and set a $26.00 price target on the stock. in a research note on Monday, November 15th. Robert W. Baird reaffirmed a buy rating on shares of Petco Health and Wellness in a research note on Tuesday, August 17th. Finally, UBS Group cut their price target on shares of Petco Health and Wellness from $27.00 to $22.00 and set a neutral rating on the stock in a research note on Friday, August 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $26.14.

Shares of NASDAQ WOOF opened at $20.04 on Thursday. The firm has a 50 day moving average price of $22.94 and a 200 day moving average price of $22.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.31 and a current ratio of 0.94. Petco Health and Wellness has a 52-week low of $17.86 and a 52-week high of $31.08.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings data on Wednesday, November 17th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.37 billion. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Petco Health and Wellness will post 0.78 earnings per share for the current fiscal year.

In other news, CEO Ron Coughlin bought 46,600 shares of the stock in a transaction that occurred on Tuesday, September 7th. The shares were acquired at an average cost of $21.72 per share, for a total transaction of $1,012,152.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.02% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of WOOF. Royal Bank of Canada acquired a new position in Petco Health and Wellness during the first quarter worth $1,308,000. California State Teachers Retirement System acquired a new position in shares of Petco Health and Wellness in the first quarter valued at $2,071,000. Man Group plc acquired a new position in shares of Petco Health and Wellness in the first quarter valued at $1,373,000. Tudor Investment Corp Et Al acquired a new position in shares of Petco Health and Wellness in the first quarter valued at $1,107,000. Finally, Morgan Stanley acquired a new position in shares of Petco Health and Wellness in the first quarter valued at $2,566,000. Institutional investors and hedge funds own 63.86% of the company’s stock.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc operates as a retailer of premium pet consumables, supplies, and companion animals and services. The company also offers grooming, in-store and online training, tele-veterinarian, and pet health insurance services, as well as veterinary services through Vetco clinics.

Featured Article: Earnings Per Share

Get a free copy of the Zacks research report on Petco Health and Wellness (WOOF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Petco Health and Wellness (NASDAQ:WOOF)