Wedbush Reiterates Outperform Rating for Petco Health and Wellness (NASDAQ:WOOF)

Wedbush reaffirmed their outperform rating on shares of Petco Health and Wellness (NASDAQ:WOOF) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

WOOF has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on shares of Petco Health and Wellness from $2.70 to $3.00 and gave the stock an outperform rating in a research report on Friday, May 24th. UBS Group upped 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. Citigroup upped their price objective on shares of 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. Finally, Needham & Company LLC reiterated a buy rating and set a $5.00 price objective on shares of Petco Health and Wellness in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $3.45.

Petco Health and Wellness Stock Performance

Shares of Petco Health and Wellness stock opened at $4.58 on Wednesday. The company has a 50 day moving average of $3.13 and a 200-day moving average of $2.76. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $4.99. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.42 billion, a PE ratio of -0.93 and a beta of 1.88.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, equities research analysts forecast that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors have recently modified their holdings of WOOF. AQR Capital Management LLC boosted its stake in shares of Petco Health and Wellness by 82.1% in the 2nd 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. Millennium Management LLC boosted its stake 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 acquiring an additional 1,876,233 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Petco Health and Wellness during the first quarter worth $4,091,000. Point72 Asset Management L.P. boosted its stake 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 acquiring an additional 1,677,179 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Petco Health and Wellness by 15.8% during the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after acquiring an additional 1,254,554 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.