Zacks Research Downgrades Petco Health and Wellness (NASDAQ:WOOF) to Hold

Petco Health and Wellness (NASDAQ:WOOF) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Wall Street Zen upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup increased their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Monday, March 16th. Jefferies Financial Group upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.05 to $5.00 in a report on Thursday, March 12th. Evercore reduced 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 research note on Tuesday, February 3rd. Finally, UBS Group lifted their price objective on Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.04.

Petco Health and Wellness Price Performance

Shares of Petco Health and Wellness stock opened at $2.47 on Monday. The business’s 50-day moving average price is $2.82 and its 200-day moving average price is $2.85. The company has a current ratio of 0.90, a quick ratio of 0.38 and a debt-to-equity ratio of 1.28. Petco Health and Wellness has a 12 month low of $2.24 and a 12 month high of $4.51. The firm has a market capitalization of $795.71 million, a PE ratio of 82.33, a price-to-earnings-growth ratio of 3.31 and a beta of 1.53.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. Petco Health and Wellness had a net margin of 0.15% and a return on equity of 0.89%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Sell-side analysts forecast that Petco Health and Wellness will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Several large investors have recently bought and sold shares of WOOF. Nuveen LLC boosted its stake in shares of Petco Health and Wellness by 81.9% during the fourth quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock worth $11,236,000 after buying an additional 1,800,860 shares during the period. Holocene Advisors LP increased its holdings in Petco Health and Wellness by 42.0% in the third quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after buying an additional 1,800,583 shares in the last quarter. Candlestick Capital Management LP purchased a new position in Petco Health and Wellness in the third quarter valued at about $6,772,000. Hillsdale Investment Management Inc. purchased a new position in Petco Health and Wellness in the first quarter valued at about $3,883,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Petco Health and Wellness by 60.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock worth $11,095,000 after purchasing an additional 1,367,299 shares in 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.