Royal Bank of Canada Increases Petco Health and Wellness (NASDAQ:WOOF) Price Target to $3.50

Petco Health and Wellness (NASDAQ:WOOF) had its target price lifted by research analysts at Royal Bank of Canada from $3.00 to $3.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 22.91% from the stock’s current price.

Several other equities analysts have also weighed in on WOOF. UBS Group raised 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 research report on Thursday, May 23rd. Citigroup raised their target price on Petco Health and Wellness from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. Finally, Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Petco Health and Wellness in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.45.

Petco Health and Wellness Price Performance

Shares of WOOF stock opened at $4.54 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.21. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $4.99. The firm has a fifty day moving average of $3.11 and a two-hundred day moving average of $2.74. The firm has a market cap of $1.41 billion, a P/E ratio of -0.92 and a beta of 1.88.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts anticipate that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WOOF. Vanguard Group Inc. raised its position in Petco Health and Wellness by 15.8% in the 1st 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 raised its holdings in shares of Petco Health and Wellness by 82.1% in the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after purchasing an additional 2,953,667 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Petco Health and Wellness by 47.3% in the second quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock worth $12,857,000 after purchasing an additional 1,092,204 shares in the last quarter. Millennium Management LLC boosted its holdings in Petco Health and Wellness by 233.7% during 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 during the last quarter. Finally, Point72 Asset Management L.P. grew its position in 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 valued at $6,863,000 after purchasing an additional 1,677,179 shares in the last quarter.

Petco Health and Wellness Company Profile

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.