Petco Health and Wellness’ (WOOF) “Buy” Rating Reaffirmed at Needham & Company LLC

Petco Health and Wellness (NASDAQ:WOOF)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $5.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 73.61% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Evercore ISI cut their price target on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a report on Friday, March 15th. Wells Fargo & Company cut their price target on shares of Petco Health and Wellness from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, March 25th. Bank of America restated an “underperform” rating and set a $1.50 price objective (down previously from $5.00) on shares of Petco Health and Wellness in a report on Tuesday, April 2nd. UBS Group cut their price objective on Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Finally, Citigroup cut their price objective on Petco Health and Wellness from $2.85 to $1.75 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.96.

Petco Health and Wellness Stock Performance

Shares of WOOF opened at $2.88 on Thursday. Petco Health and Wellness has a 1 year low of $1.41 and a 1 year high of $10.31. The company has a market cap of $885.23 million, a price-to-earnings ratio of -0.60 and a beta of 1.27. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.24 and a current ratio of 0.86. The firm has a fifty day moving average of $1.90 and a 200-day moving average of $2.61.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. 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 large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Petco Health and Wellness by 12.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,290 shares of the company’s stock worth $104,000 after purchasing an additional 4,836 shares during the period. Bank of New York Mellon Corp boosted its position in Petco Health and Wellness by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 382,413 shares of the company’s stock worth $1,564,000 after purchasing an additional 5,695 shares during the period. Orion Portfolio Solutions LLC boosted its position in Petco Health and Wellness by 117.9% during the third quarter. Orion Portfolio Solutions LLC now owns 22,318 shares of the company’s stock worth $91,000 after purchasing an additional 12,076 shares during the period. Everhart Financial Group Inc. bought a new stake in Petco Health and Wellness during the fourth quarter worth approximately $41,000. Finally, Headlands Technologies LLC bought a new stake in shares of Petco Health and Wellness in the first quarter valued at approximately $30,000.

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.