Wells Fargo & Company Boosts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $3.00

Petco Health and Wellness (NASDAQ:WOOF) had its price objective lifted by investment analysts at Wells Fargo & Company from $2.75 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 18.26% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Citigroup raised 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 report on Friday, July 19th. UBS Group raised 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 report on Thursday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Petco Health and Wellness in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Petco Health and Wellness in a report on Thursday, May 23rd. Finally, Royal Bank of Canada increased their price target on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday. One equities 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. According to MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and a consensus target price of $3.49.

Petco Health and Wellness Price Performance

NASDAQ:WOOF traded up $0.60 during mid-day trading on Wednesday, hitting $3.67. The company’s stock had a trading volume of 5,636,074 shares, compared to its average volume of 4,613,512. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $4.91. 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 $1.14 billion, a price-to-earnings ratio of -0.74 and a beta of 1.88. The stock has a fifty day moving average of $3.06 and a 200-day moving average of $2.72.

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

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Petco Health and Wellness by 0.4% during the second quarter. SG Americas Securities LLC now owns 1,070,559 shares of the company’s stock worth $4,047,000 after purchasing an additional 4,052 shares in the last quarter. Norden Group LLC boosted its position in shares of Petco Health and Wellness by 31.7% during the second quarter. Norden Group LLC now owns 17,860 shares of the company’s stock worth $68,000 after purchasing an additional 4,301 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Petco Health and Wellness by 21.6% during the second quarter. HB Wealth Management LLC now owns 25,949 shares of the company’s stock worth $98,000 after purchasing an additional 4,615 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Finally, Caprock Group LLC bought a new position in shares of Petco Health and Wellness during the second quarter worth $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.