Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down After Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $4.00 to $3.25. The stock had previously closed at $3.05, but opened at $2.72. Citigroup currently has a neutral rating on the stock. Petco Health and Wellness shares last traded at $2.5750, with a volume of 2,235,802 shares traded.

A number of other brokerages have also weighed in on WOOF. Wall Street Zen upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group lowered Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 price objective on the stock. in a research report on Monday, April 13th. Zacks Research lowered Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. UBS Group lifted their price objective on Petco Health and Wellness from $3.50 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, March 16th. Finally, Jefferies Financial Group upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.05 to $5.00 in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.89.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of Petco Health and Wellness by 425.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,523 shares of the company’s stock worth $30,000 after purchasing an additional 8,519 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Petco Health and Wellness in the fourth quarter worth $31,000. Cibc World Market Inc. purchased a new position in shares of Petco Health and Wellness in the fourth quarter worth $32,000. HB Wealth Management LLC purchased a new position in shares of Petco Health and Wellness in the first quarter worth $34,000. Finally, Quantbot Technologies LP purchased a new position in shares of Petco Health and Wellness in the third quarter worth $34,000.

Petco Health and Wellness Stock Down 1.4%

The company has a 50 day moving average price of $2.79 and a two-hundred day moving average price of $2.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.38. The stock has a market cap of $911.67 million, a PE ratio of 141.57, a PEG ratio of 3.71 and a beta of 1.53.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a return on equity of 1.36% and a net margin of 0.09%.The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts expect that Petco Health and Wellness Company, Inc. will post 0.07 EPS for the current year.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.