Petco Health and Wellness (NASDAQ:WOOF) Upgraded to Buy by Zacks Investment Research

Petco Health and Wellness (NASDAQ:WOOF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $25.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.79% from the stock’s current price.

According to Zacks, “Petco Health and Wellness is a fully-integrated health and wellness company for pets. They offer premium products, services and veterinary care. “

WOOF has been the topic of a number of other research reports. BNP Paribas initiated coverage on shares of Petco Health and Wellness in a report on Friday, July 16th. They issued an “underperform” rating and a $16.00 price objective on the stock. initiated coverage on shares of Petco Health and Wellness in a report on Wednesday, June 2nd. They issued a “buy” rating and a $31.00 price objective on the stock. Robert W. Baird reissued a “buy” rating on shares of Petco Health and Wellness in a report on Tuesday, August 17th. Credit Suisse Group raised shares of Petco Health and Wellness from a “neutral” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Friday, August 20th. Finally, Exane BNP Paribas started coverage on shares of Petco Health and Wellness in a report on Friday, July 16th. They set an “underperform” rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $26.29.

Shares of WOOF stock traded down $0.34 during trading hours on Tuesday, reaching $21.97. The company had a trading volume of 10,865 shares, compared to its average volume of 2,875,212. The business has a fifty day moving average price of $20.92 and a 200-day moving average price of $22.20. Petco Health and Wellness has a one year low of $17.86 and a one year high of $31.08. The firm has a market cap of $4.98 billion and a PE ratio of 95.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.31 and a current ratio of 0.94.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings results on Wednesday, August 18th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.37 billion. The company’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts forecast that Petco Health and Wellness will post 0.83 EPS for the current year.

In related news, CEO Ron Coughlin acquired 46,600 shares of Petco Health and Wellness stock in a transaction dated Tuesday, September 7th. The shares were purchased at an average price of $21.72 per share, for a total transaction of $1,012,152.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.02% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in WOOF. Canada Pension Plan Investment Board bought a new stake in Petco Health and Wellness in the first quarter worth $1,554,022,000. Price T Rowe Associates Inc. MD bought a new position in Petco Health and Wellness during the first quarter valued at $88,574,000. Massachusetts Financial Services Co. MA bought a new position in Petco Health and Wellness during the first quarter valued at $81,274,000. Wells Fargo & Company MN increased its position in Petco Health and Wellness by 169.0% during the second quarter. Wells Fargo & Company MN now owns 4,966,303 shares of the company’s stock valued at $111,294,000 after acquiring an additional 3,120,200 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Petco Health and Wellness during the first quarter valued at $67,670,000. Institutional investors own 63.35% of the company’s stock.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc operates as a retailer of premium pet consumables, supplies, and companion animals and services. The company also offers grooming, in-store and online training, tele-veterinarian, and pet health insurance services, as well as veterinary services through Vetco clinics.

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