Petco Health and Wellness (NASDAQ:WOOF) Trading Up 8.1% – Time to Buy?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) was up 8.1% during trading on Wednesday . The company traded as high as $4.96 and last traded at $4.92. Approximately 850,334 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,551,048 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

A number of research firms have issued reports on WOOF. Citigroup raised their price target on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada boosted their target price on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley increased their price target on Petco Health and Wellness from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday. Finally, Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.16.

Petco Health and Wellness Stock Performance

The business’s 50 day moving average is $4.59 and its 200-day moving average is $3.88. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Petco Health and Wellness (NASDAQ:WOOF) last released its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts forecast that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Petco Health and Wellness

Several hedge funds and other institutional investors have recently made changes to their positions in WOOF. Caprock Group LLC acquired a new position in Petco Health and Wellness in the 2nd quarter valued at $44,000. Choreo LLC purchased a new stake in shares of Petco Health and Wellness during the second quarter worth $45,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Petco Health and Wellness in the second quarter valued at about $50,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Petco Health and Wellness by 253.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock worth $51,000 after buying an additional 8,056 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Petco Health and Wellness during the second quarter worth about $52,000.

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.