Wedbush Increases Petco Health and Wellness (NASDAQ:WOOF) Price Target to $5.50

Petco Health and Wellness (NASDAQ:WOOF) had its price objective hoisted by analysts at Wedbush from $5.00 to $5.50 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 8.91% from the stock’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company lifted their price objective on Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Citigroup lifted their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada boosted their target price on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.49.

Petco Health and Wellness Trading Up 10.3 %

Shares of WOOF traded up $0.47 during trading hours on Friday, reaching $5.05. 1,830,867 shares of the company traded hands, compared to its average volume of 4,684,632. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -1.02 and a beta of 1.92. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $5.94. The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average price is $3.90 and its 200 day moving average price is $3.18.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The firm 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 return on equity of 6.51% and a negative net margin of 21.46%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. Sell-side analysts forecast 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 modified their holdings of the business. Point72 Asset Management L.P. boosted its position in Petco Health and Wellness by 1,212.7% in the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after buying an additional 1,677,179 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 1,254,554 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Petco Health and Wellness during the first quarter worth $1,260,000. Norden Group LLC purchased a new position in shares of Petco Health and Wellness during the 1st quarter worth $309,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Petco Health and Wellness during the 1st quarter worth $588,000.

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.