Citigroup Boosts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $4.00

Petco Health and Wellness (NASDAQ:WOOF) had its price target raised by Citigroup from $3.00 to $4.00 in a report published on Friday, Marketbeat reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on WOOF. Royal Bank of Canada upped their price target on shares of Petco Health and Wellness from $2.70 to $3.00 and gave the company an outperform rating in a report on Friday, May 24th. Wedbush reaffirmed an outperform rating and set a $5.00 price objective (up from $4.00) on shares of Petco Health and Wellness in a research note on Thursday, July 18th. Bank of America reaffirmed an underperform rating and set a $1.50 price objective (down from $5.00) on shares of Petco Health and Wellness in a research note on Tuesday, April 2nd. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price objective on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Petco Health and Wellness from $3.00 to $2.00 and set an equal weight rating for the company in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $3.36.

Petco Health and Wellness Price Performance

Shares of NASDAQ WOOF opened at $3.39 on Friday. Petco Health and Wellness has a twelve month low of $1.41 and a twelve month high of $8.45. The company has a current ratio of 0.85, a quick ratio of 0.21 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.69 and a beta of 1.89. The firm has a 50-day moving average of $3.39 and a two-hundred day moving average of $2.65.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. Petco Health and Wellness had a negative net margin of 21.27% and a negative return on equity of 4.22%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. As a group, analysts expect that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

Insider Activity

In other Petco Health and Wellness news, Director Cameron Breitner bought 750,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $3.14 per share, for a total transaction of $2,355,000.00. Following the acquisition, the director now directly owns 750,000 shares of the company’s stock, valued at $2,355,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently added to or reduced their stakes in WOOF. Citigroup Inc. grew its holdings in Petco Health and Wellness by 172.9% during the third quarter. Citigroup Inc. now owns 150,250 shares of the company’s stock valued at $615,000 after purchasing an additional 95,189 shares during the last quarter. Vanguard Group Inc. grew its holdings in Petco Health and Wellness by 3.0% during the third quarter. Vanguard Group Inc. now owns 7,717,125 shares of the company’s stock valued at $31,563,000 after purchasing an additional 227,704 shares during the last quarter. Everhart Financial Group Inc. acquired a new position in Petco Health and Wellness during the fourth quarter valued at approximately $41,000. SG Americas Securities LLC acquired a new position in Petco Health and Wellness during the fourth quarter valued at approximately $1,310,000. Finally, FNY Investment Advisers LLC acquired a new position in Petco Health and Wellness during the fourth quarter valued at approximately $44,000.

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.