Petco Health and Wellness (NASDAQ:WOOF) Price Target Cut to $2.70

Petco Health and Wellness (NASDAQ:WOOF) had its price target dropped by equities research analysts at Royal Bank of Canada from $3.50 to $2.70 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 34.33% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on WOOF. Robert W. Baird cut shares of Petco Health and Wellness from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $8.00 to $3.00 in a research report on Thursday, November 30th. Wedbush lowered their target price on shares of Petco Health and Wellness from $4.50 to $3.50 and set an “outperform” rating for the company in a research note on Thursday, November 30th. Wells Fargo & Company downgraded shares of Petco Health and Wellness from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 29th. The Goldman Sachs Group lowered their target price on shares of Petco Health and Wellness from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, November 30th. Finally, Jefferies Financial Group began coverage on shares of Petco Health and Wellness in a research note on Tuesday, December 19th. They set a “hold” rating and a $3.11 target price for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.28.

Petco Health and Wellness Trading Down 4.7 %

NASDAQ:WOOF traded down $0.10 on Friday, reaching $2.01. 4,294,293 shares of the company’s stock were exchanged, compared to its average volume of 4,151,540. The company has a quick ratio of 0.25, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $615.62 million, a price-to-earnings ratio of -0.42 and a beta of 1.17. The business has a fifty day moving average of $2.60 and a 200-day moving average of $3.29. Petco Health and Wellness has a 52-week low of $1.97 and a 52-week high of $10.76.

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 20.47% and a negative return on equity of 2.20%. 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 will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC purchased a new stake in shares of Petco Health and Wellness in the first quarter valued at about $25,000. Deutsche Bank AG raised its holdings in Petco Health and Wellness by 607.8% during the fourth quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock worth $36,000 after purchasing an additional 3,288 shares in the last quarter. Advisory Services Network LLC raised its holdings in 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 worth $37,000 after purchasing an additional 1,554 shares in the last quarter. FMR LLC raised its holdings in Petco Health and Wellness by 1,396.5% during the first quarter. FMR LLC now owns 5,148 shares of the company’s stock worth $46,000 after purchasing an additional 4,804 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in Petco Health and Wellness by 384.1% during the first quarter. Belpointe Asset Management LLC now owns 7,625 shares of the company’s stock worth $69,000 after purchasing an additional 6,050 shares in the last quarter. 48.54% of the stock is owned by hedge funds and other institutional investors.

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.