Petco Health and Wellness (NASDAQ:WOOF) Trading Up 6.4% – What’s Next?

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) traded up 6.4% on Wednesday . The company traded as high as $2.85 and last traded at $2.8950. 206,881 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,320,406 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WOOF. Wall Street Zen upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Jefferies Financial Group upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating and upped their price target for the stock from $4.05 to $5.00 in a research report on Thursday, March 12th. Citigroup reduced their price target on Petco Health and Wellness from $4.00 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, June 4th. The Goldman Sachs Group cut Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 price target for the company. in a research report on Monday, April 13th. Finally, Zacks Research cut Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.89.

Petco Health and Wellness Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.29. The firm has a 50-day moving average of $2.79 and a 200-day moving average of $2.83. The stock has a market cap of $939.07 million, a PE ratio of 146.82, a PEG ratio of 4.04 and a beta of 1.53.

Petco Health and Wellness (NASDAQ:WOOF) last released its earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a return on equity of 1.36% and a net margin of 0.09%.The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that Petco Health and Wellness Company, Inc. will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Petco Health and Wellness by 12.8% during the second quarter. Sei Investments Co. now owns 26,055 shares of the company’s stock valued at $74,000 after buying an additional 2,951 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Petco Health and Wellness by 14.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,500 shares of the company’s stock valued at $66,000 after buying an additional 2,988 shares during the last quarter. Bank of Nova Scotia boosted its stake in Petco Health and Wellness by 27.8% during the second quarter. Bank of Nova Scotia now owns 15,208 shares of the company’s stock valued at $43,000 after buying an additional 3,308 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Petco Health and Wellness by 9.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 42,569 shares of the company’s stock valued at $155,000 after buying an additional 3,531 shares during the last quarter. Finally, Creative Planning boosted its stake in Petco Health and Wellness by 11.0% during the third quarter. Creative Planning now owns 40,826 shares of the company’s stock valued at $158,000 after buying an additional 4,047 shares during the last quarter.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.