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

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by Wells Fargo & Company from $3.00 to $2.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also weighed in on WOOF. Morgan Stanley reduced their price objective on Petco Health and Wellness from $5.00 to $3.00 and set an equal weight rating for the company in a research report on Monday, December 4th. Needham & Company LLC restated a buy rating and set a $5.00 price target on shares of Petco Health and Wellness in a report on Wednesday, March 13th. Evercore ISI dropped their target price 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 started coverage on Petco Health and Wellness in a research report on Tuesday, December 19th. They set a hold rating and a $3.11 target price for the company. Finally, Royal Bank of Canada reduced their price target on Petco Health and Wellness from $3.50 to $2.70 and set an outperform rating for the company in a research report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $4.36.

Petco Health and Wellness Stock Up 4.1 %

WOOF stock opened at $2.28 on Monday. The stock’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $3.13. 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 has a 1-year low of $1.87 and a 1-year high of $10.76. The stock has a market cap of $698.32 million, a P/E ratio of -0.48 and a beta of 1.17.

Petco Health and Wellness (NASDAQ:WOOF) last announced its earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. Petco Health and Wellness had a negative return on equity of 2.20% and a negative net margin of 20.47%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. Analysts expect that Petco Health and Wellness will post -0.23 EPS for the current year.

Institutional Trading of Petco Health and Wellness

Large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in shares of Petco Health and Wellness by 71.2% in the first quarter. Advisor Group Holdings Inc. now owns 34,560 shares of the company’s stock worth $353,000 after buying an additional 14,371 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Petco Health and Wellness in the first quarter valued at approximately $349,000. Bank of New York Mellon Corp increased its holdings in shares of Petco Health and Wellness by 422.9% in the first quarter. Bank of New York Mellon Corp now owns 1,451,917 shares of the company’s stock valued at $28,416,000 after purchasing an additional 1,174,228 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in Petco Health and Wellness in the first quarter worth approximately $265,000. Finally, MetLife Investment Management LLC purchased a new position in Petco Health and Wellness in the first quarter worth approximately $25,000.

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.