Petco Health and Wellness Company, Inc. (NASDAQ:WOOF – Get Free Report) experienced a significant drop of 5.9% during mid-day trading on Wednesday. The stock traded as low as $2.24 and was last seen at $2.25. This decline was notable, with approximately 878,080 shares changing hands, marking an 82% decrease from the average daily volume of 4,762,084 shares. The previous close was at $2.39.
Analyst Upgrades and Downgrades
Petco has been the subject of various analyst reports. Citigroup raised their price target on Petco shares from $3.00 to $4.00, assigning a “neutral” rating in a report dated July 19th. Similarly, UBS Group increased their target from $2.50 to $3.25, also giving a “neutral” rating on May 23rd. Wedbush maintained an “outperform” rating and set a price target of $5.00, up from $4.00, on July 18th. Royal Bank of Canada raised their target from $2.70 to $3.00, rating it as “outperform” on May 24th. Needham & Company LLC reiterated a “buy” rating with a $5.00 price objective on May 23rd. Currently, one analyst rates the stock as a sell, nine as hold, and four as buy, leading to an average rating of “Hold” with a target price of $3.36 according to MarketBeat.com.
Check Out Our Latest Stock Analysis on Petco Health and Wellness
Petco Health and Wellness Price Performance
The company has a quick ratio of 0.21, a current ratio of 0.85, and a debt-to-equity ratio of 1.35. With a market cap of $717.90 million, the P/E ratio stands at -0.47, and the beta is 1.89. The 50-day moving average is $3.33, while the 200-day moving average is $2.67.
Petco last reported its quarterly earnings on May 22nd, revealing an EPS of ($0.09), surpassing analysts’ expectations of ($0.12) by $0.03. The company generated $1.53 billion in revenue, exceeding the anticipated $1.50 billion. However, Petco recorded a negative net margin of 21.27% and a negative return on equity of 4.22%. Analysts predict that Petco will post an EPS of -0.24 for the current year.
Insiders Place Their Bets
In related news, Director Cameron Breitner acquired 750,000 shares of Petco on May 29th at an average price of $3.14 per share, totaling $2,355,000. Following this transaction, the director holds 750,000 shares valued at approximately $2,355,000. This purchase was disclosed in a filing with the SEC, available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have adjusted their positions in WOOF. Jacobs Levy Equity Management Inc. acquired a new position worth about $4,091,000 in Petco during the first quarter. Vanguard Group Inc. increased its holdings by 15.8% in the same period, now owning 9,208,064 shares valued at $20,994,000 after purchasing an additional 1,254,554 shares. Marshall Wace LLP raised its holdings by 47.3% in the second quarter, now owning 3,401,248 shares worth $12,857,000 after an additional purchase of 1,092,204 shares. Summit Trail Advisors LLC also acquired a new position worth about $2,853,000 in the second quarter. Finally, SG Americas Securities LLC increased its holdings by 157.3% in the first quarter, now owning 1,066,507 shares valued at $2,432,000 after purchasing an additional 652,080 shares.
Petco Health and Wellness Company Profile
Petco Health and Wellness Company, Inc. focuses on enhancing the lives of pets, pet parents, and its partners in the U.S., Mexico, and Puerto Rico. The company offers veterinary care, grooming, training, tele-health, and pet health insurance services through Vetco mobile clinics.
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