Petco Health and Wellness (NASDAQ:WOOF) Sees Large Volume Increase on Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) saw unusually-high trading volume on Thursday after Citigroup raised their price target on the stock from $4.00 to $4.50. Citigroup currently has a neutral rating on the stock. Approximately 2,481,232 shares traded hands during mid-day trading, a decline of 47% from the previous session’s volume of 4,719,761 shares.The stock last traded at $4.59 and had previously closed at $4.08.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Petco Health and Wellness in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company lifted their price objective on Petco Health and Wellness from $2.75 to $3.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.45.

Hedge Funds Weigh In On Petco Health and Wellness

Several hedge funds have recently added to or reduced their stakes in the company. Ariadne Wealth Management LP purchased a new position in Petco Health and Wellness during the 2nd quarter valued at $81,000. Point72 Asset Management L.P. grew its holdings in shares of Petco Health and Wellness by 1,212.7% in the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after purchasing an additional 1,677,179 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Petco Health and Wellness by 50.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 833,153 shares of the company’s stock worth $3,149,000 after buying an additional 280,644 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Petco Health and Wellness during the 2nd quarter valued at about $135,000. Finally, Millennium Management LLC grew its stake in Petco Health and Wellness by 233.7% in 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 in the last quarter.

Petco Health and Wellness Price Performance

The company has a market capitalization of $1.42 billion, a PE ratio of -0.93 and a beta of 1.88. The firm has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $2.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.21 and a current ratio of 0.84.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current year.

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.