Petco Health and Wellness Target of Unusually Large Options Trading (NASDAQ:WOOF)

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) was the target of unusually large options trading on Wednesday. Stock traders bought 8,577 call options on the stock. This represents an increase of approximately 276% compared to the typical daily volume of 2,280 call options.

Petco Health and Wellness Stock Up 17.6 %

Shares of WOOF opened at $2.88 on Thursday. The firm has a market cap of $885.23 million, a P/E ratio of -0.60 and a beta of 1.27. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $10.31. The company’s 50-day moving average price is $1.90 and its 200 day moving average price is $2.61. The company has a current ratio of 0.86, a quick ratio of 0.24 and a debt-to-equity ratio of 1.33.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings data on Wednesday, March 13th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. Petco Health and Wellness’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts forecast that Petco Health and Wellness will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Petco Health and Wellness from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Monday, March 25th. Citigroup decreased their target price on Petco Health and Wellness from $2.85 to $1.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Evercore ISI decreased their target price on Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating on the stock in a research report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of Petco Health and Wellness in a research report on Wednesday, March 13th. Finally, Bank of America reissued an “underperform” rating and issued a $1.50 price objective (down from $5.00) on shares of Petco Health and Wellness in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.96.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently made changes to their positions in WOOF. Headlands Technologies LLC acquired a new position in shares of Petco Health and Wellness during the first quarter worth about $30,000. Norden Group LLC acquired a new position in Petco Health and Wellness in the first quarter valued at approximately $31,000. Everhart Financial Group Inc. purchased a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $41,000. FNY Investment Advisers LLC purchased a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $44,000. Finally, HB Wealth Management LLC purchased a new stake in Petco Health and Wellness in the first quarter valued at approximately $49,000.

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.