Wells Fargo & Company Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $2.00

Petco Health and Wellness (NASDAQ:WOOF) had its price target lowered by Wells Fargo & Company from $3.00 to $2.00 in a report released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Evercore ISI cut their price target on Petco Health and Wellness from $4.00 to $3.00 and set an in-line rating for the company in a report on Friday, March 15th. Jefferies Financial Group initiated coverage on Petco Health and Wellness in a report on Tuesday, December 19th. They set a hold rating and a $3.11 price target for the company. Morgan Stanley dropped their target price on Petco Health and Wellness from $5.00 to $3.00 and set an equal weight rating for the company in a report on Monday, December 4th. Royal Bank of Canada dropped their target price on Petco Health and Wellness from $3.50 to $2.70 and set an outperform rating for the company in a report on Friday, March 15th. Finally, Robert W. Baird dropped their target price on Petco Health and Wellness from $3.00 to $2.50 and set a neutral rating for the company in a report on Thursday, March 14th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $4.68.

Petco Health and Wellness Trading Up 16.5 %

NASDAQ WOOF opened at $2.19 on Monday. The stock has a 50 day moving average of $2.46 and a 200-day moving average of $3.13. Petco Health and Wellness has a 12 month low of $1.87 and a 12 month high of $10.76. The company has a market cap of $670.75 million, a PE ratio of -0.46 and a beta of 1.17. The company has a current ratio of 0.86, a quick ratio of 0.24 and a debt-to-equity ratio of 1.33.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Petco Health and Wellness had a negative return on equity of 2.20% and a negative net margin of 20.47%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.17 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Petco Health and Wellness by 73.4% in the third quarter. AQR Capital Management LLC now owns 5,225,206 shares of the company’s stock worth $21,084,000 after purchasing an additional 2,210,988 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Petco Health and Wellness in the third quarter valued at about $1,574,000. Graham Capital Management L.P. bought a new position in Petco Health and Wellness in the third quarter valued at about $436,000. FMR LLC grew its position in Petco Health and Wellness by 216.2% in the third quarter. FMR LLC now owns 604,446 shares of the company’s stock valued at $2,472,000 after acquiring an additional 413,295 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in Petco Health and Wellness in the second quarter valued at about $21,579,000.

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.