Petco Health and Wellness (NASDAQ:WOOF) Trading 11.1% Higher Following Analyst Upgrade

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) were up 11.1% on Wednesday after Wells Fargo & Company raised their price target on the stock from $2.75 to $3.00. Wells Fargo & Company currently has an equal weight rating on the stock. Petco Health and Wellness traded as high as $3.46 and last traded at $3.41. Approximately 1,549,867 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,590,162 shares. The stock had previously closed at $3.07.

Other equities research analysts have also recently issued reports about the company. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Petco Health and Wellness in a report on Wednesday. Citigroup increased their price target on shares of Petco Health and Wellness from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. UBS Group lifted their price objective on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Petco Health and Wellness in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada lifted their price target 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Petco Health and Wellness currently has an average rating of “Hold” and a consensus target price of $3.49.

Institutional Trading of Petco Health and Wellness

Institutional investors and hedge funds have recently modified their holdings of the stock. Ariadne Wealth Management LP purchased a new position in shares of Petco Health and Wellness in the second quarter worth about $81,000. Point72 Asset Management L.P. lifted its position in Petco Health and Wellness by 1,212.7% during the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after buying an additional 1,677,179 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Petco Health and Wellness by 50.8% during the second 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 last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Petco Health and Wellness in the 2nd quarter worth $135,000. Finally, Millennium Management LLC raised its holdings in shares of Petco Health and Wellness by 233.7% during the 2nd quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after acquiring an additional 1,876,233 shares during the period.

Petco Health and Wellness Stock Performance

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -0.83 and a beta of 1.88. The firm’s 50-day moving average price is $3.08 and its two-hundred day moving average price is $2.73. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.21 and a current ratio of 0.85.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. Petco Health and Wellness’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, analysts expect that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current fiscal 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.