Petco Health and Wellness (NASDAQ:WOOF) Hits New 1-Year Low – What’s Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) hit a new 52-week low on Tuesday. The company traded as low as $2.24 and last traded at $2.2550, with a volume of 788674 shares. The stock had previously closed at $2.27.

Analyst Ratings Changes

A number of analysts have weighed in on WOOF shares. Wall Street Zen upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. UBS Group lowered their target price on Petco Health and Wellness from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Robert W. Baird boosted their price target on Petco Health and Wellness from $3.00 to $3.25 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Zacks Research raised shares of Petco Health and Wellness from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. Finally, Weiss Ratings upgraded shares of Petco Health and Wellness from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.42.

Petco Health and Wellness Price Performance

The firm has a market capitalization of $734.34 million, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 2.06 and a beta of 1.53. The business has a 50-day moving average of $2.64 and a 200 day moving average of $2.73. The company has a current ratio of 0.90, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. Petco Health and Wellness had a return on equity of 3.44% and a net margin of 0.51%.The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, sell-side analysts predict that Petco Health and Wellness Company, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Petco Health and Wellness

In related news, insider Holly May sold 200,000 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $2.54, for a total value of $508,000.00. Following the transaction, the insider directly owned 1,327,867 shares in the company, valued at $3,372,782.18. This trade represents a 13.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 450,000 shares of company stock worth $1,145,500 over the last quarter. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Petco Health and Wellness

Several large investors have recently added to or reduced their stakes in WOOF. Engineers Gate Manager LP boosted its position in shares of Petco Health and Wellness by 113.1% during the second quarter. Engineers Gate Manager LP now owns 90,072 shares of the company’s stock valued at $245,000 after buying an additional 47,806 shares during the last quarter. Squarepoint Ops LLC bought a new position in Petco Health and Wellness during the 2nd quarter valued at $723,000. Bank of America Corp DE lifted its stake in Petco Health and Wellness by 6.7% during the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company’s stock valued at $749,000 after acquiring an additional 16,825 shares in the last quarter. Amundi purchased a new position in Petco Health and Wellness during the 1st quarter worth $54,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Petco Health and Wellness in the 1st quarter worth $1,455,000.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc is a pet-focused retailer and services provider operating primarily in the United States and Puerto Rico. The company serves pet owners through a network of stores and digital channels, offering products and services for dogs, cats, small animals, birds, fish and reptiles.

Petco sells pet food, treats, supplies, toys, bedding, habitats and other everyday care products, including merchandise under its own brands such as WholeHearted, Reddy and EveryYay.