Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down to $3.99

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.99, but opened at $3.84. Petco Health and Wellness shares last traded at $3.81, with a volume of 210,782 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley dropped their price target on Petco Health and Wellness from $9.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Wolfe Research initiated coverage on Petco Health and Wellness in a report on Friday, September 29th. They issued a “peer perform” rating for the company. Wedbush lowered their price target on Petco Health and Wellness from $6.00 to $4.50 and set an “outperform” rating for the company in a report on Tuesday, October 31st. Royal Bank of Canada lowered their price target on Petco Health and Wellness from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 25th. Finally, Robert W. Baird lowered their price target on Petco Health and Wellness from $11.00 to $8.00 in a report on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Petco Health and Wellness has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Petco Health and Wellness Stock Performance

The business has a 50-day moving average price of $3.71 and a 200-day moving average price of $6.51. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 24.74 and a beta of 1.30. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.66.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Petco Health and Wellness had a return on equity of 3.17% and a net margin of 0.59%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, sell-side analysts forecast that Petco Health and Wellness Company, Inc. will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of large investors have recently made changes to their positions in WOOF. MetLife Investment Management LLC purchased a new stake in shares of Petco Health and Wellness during the first quarter valued at $25,000. Deutsche Bank AG grew its holdings in shares of Petco Health and Wellness by 607.8% during the fourth quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock valued at $36,000 after buying an additional 3,288 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Petco Health and Wellness by 61.9% during the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock valued at $37,000 after buying an additional 1,554 shares during the last quarter. FMR LLC boosted its holdings in Petco Health and Wellness by 1,396.5% in the first quarter. FMR LLC now owns 5,148 shares of the company’s stock valued at $46,000 after purchasing an additional 4,804 shares during the last quarter. Finally, CWM LLC boosted its holdings in Petco Health and Wellness by 1,254.2% in the third quarter. CWM LLC now owns 15,302 shares of the company’s stock valued at $63,000 after purchasing an additional 14,172 shares during the last quarter. 48.54% of the stock is owned by hedge funds and other institutional investors.

About Petco Health and Wellness

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.