Petco Health and Wellness (NASDAQ:WOOF) Trading 4.2% Higher Following Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price shot up 4.2% during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $2.70 to $3.00. Royal Bank of Canada currently has an outperform rating on the stock. Petco Health and Wellness traded as high as $3.17 and last traded at $3.00. 1,967,275 shares were traded during mid-day trading, a decline of 55% from the average session volume of 4,372,221 shares. The stock had previously closed at $2.88.

A number of other equities analysts also recently issued reports on the company. Citigroup lowered their price target 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. Robert W. Baird dropped their price target on shares of Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Evercore ISI reduced their price objective on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a research report on Friday, March 15th. Bank of America reiterated an “underperform” rating and issued a $1.50 target price (down previously from $5.00) on shares of Petco Health and Wellness in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Petco Health and Wellness from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.09.

Hedge Funds Weigh In On Petco Health and Wellness

Several large investors have recently modified their holdings of WOOF. Bank of New York Mellon Corp lifted its position in Petco Health and Wellness by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 382,413 shares of the company’s stock valued at $1,564,000 after buying an additional 5,695 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Petco Health and Wellness by 117.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 22,318 shares of the company’s stock valued at $91,000 after purchasing an additional 12,076 shares during the last quarter. Versor Investments LP raised its position in Petco Health and Wellness by 108.9% in the third quarter. Versor Investments LP now owns 98,759 shares of the company’s stock valued at $404,000 after purchasing an additional 51,474 shares during the period. Barclays PLC lifted its stake in Petco Health and Wellness by 112.7% during the third quarter. Barclays PLC now owns 145,570 shares of the company’s stock worth $594,000 after purchasing an additional 77,118 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Petco Health and Wellness by 2,727.7% during the third quarter. Quantbot Technologies LP now owns 287,884 shares of the company’s stock worth $1,177,000 after buying an additional 277,703 shares during the period.

Petco Health and Wellness Price Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.24. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -0.73 and a beta of 1.27. The stock has a 50 day moving average price of $1.95 and a two-hundred day moving average price of $2.61.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company 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 21.27% and a negative return on equity of 4.22%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, analysts expect that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current year.

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.