Wedbush Boosts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $4.00

Petco Health and Wellness (NASDAQ:WOOF) had its price objective upped by analysts at Wedbush from $3.00 to $4.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 27.80% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Citigroup cut their price objective on shares of Petco Health and Wellness from $2.85 to $1.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Petco Health and Wellness from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a report on Thursday. UBS Group upped their price objective on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the company a “neutral” rating in a report on Thursday. Finally, Evercore ISI decreased their target price on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness presently has an average rating of “Hold” and an average price target of $3.07.

Petco Health and Wellness Trading Up 8.7 %

Shares of WOOF stock traded up $0.25 during trading hours on Thursday, reaching $3.13. 4,817,596 shares of the stock were exchanged, compared to its average volume of 4,402,838. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $9.74. The company’s 50-day moving average price is $1.90 and its 200-day moving average price is $2.61. The firm has a market capitalization of $962.07 million, a price-to-earnings ratio of -0.66 and a beta of 1.27. 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 data on Wednesday, March 13th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Petco Health and Wellness will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Petco Health and Wellness by 15.8% in the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock valued at $20,994,000 after buying an additional 1,254,554 shares during the last quarter. AQR Capital Management LLC grew its holdings 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 valued at $21,084,000 after purchasing an additional 2,210,988 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Petco Health and Wellness in the first quarter valued at about $4,091,000. SG Americas Securities LLC grew its holdings in shares of Petco Health and Wellness by 157.3% in the first quarter. SG Americas Securities LLC now owns 1,066,507 shares of the company’s stock valued at $2,432,000 after purchasing an additional 652,080 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Petco Health and Wellness by 113.9% in the first quarter. ProShare Advisors LLC now owns 862,637 shares of the company’s stock valued at $1,967,000 after purchasing an additional 459,257 shares during the period.

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.