Petco Health and Wellness (NASDAQ:WOOF) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Petco Health and Wellness (NASDAQ: WOOF) from “hold” to “buy,” though the broader analyst consensus remains “hold” with an average price target of $3.42.
• WOOF shares opened at $2.45, near their one-year low of $2.24. The company’s latest quarterly results exceeded expectations, with adjusted earnings of $0.13 per share versus the $0.07 consensus estimate and revenue of $1.49 billion.
• Insiders have been selling shares: company insiders sold 450,000 shares worth approximately $1.15 million over the past 90 days, while insiders retain a 6.5% ownership stake.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

Several other research firms have also commented on WOOF. Citigroup dropped their price target on shares of Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. BNP Paribas Exane cut their price objective on Petco Health and Wellness from $2.34 to $2.11 and set an "underperform" rating for the company in a research report on Thursday, September 3rd. Weiss Ratings raised Petco Health and Wellness from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday. Robert W. Baird upped their price objective on shares of Petco Health and Wellness from $3.00 to $3.25 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. Finally, UBS Group decreased their price target on shares of Petco Health and Wellness from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $3.42.

Petco Health and Wellness Stock Up 0.8%

Shares of NASDAQ:WOOF opened at $2.45 on Friday. The company has a market cap of $792.23 million, a PE ratio of 24.50, a P/E/G ratio of 2.22 and a beta of 1.53. The stock's 50-day moving average is $2.70 and its 200 day moving average is $2.74. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.39. Petco Health and Wellness has a 1 year low of $2.24 and a 1 year high of $3.96.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. Petco Health and Wellness had a return on equity of 3.44% and a net margin of 0.51%.During the same quarter last year, the business posted $0.05 earnings per share. Sell-side analysts anticipate that Petco Health and Wellness will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other Petco Health and Wellness news, insider Holly May sold 200,000 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 1,327,867 shares of the company's stock, valued at $3,372,782.18. The trade was a 13.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 450,000 shares of company stock worth $1,145,500 over the last ninety days. Company insiders own 6.50% of the company's stock.

Institutional Trading of Petco Health and Wellness

A number of large investors have recently modified their holdings of WOOF. Engineers Gate Manager LP raised its stake in shares of Petco Health and Wellness by 113.1% in the second quarter. Engineers Gate Manager LP now owns 90,072 shares of the company's stock valued at $245,000 after acquiring an additional 47,806 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Petco Health and Wellness during the 2nd quarter worth $723,000. California State Teachers Retirement System increased its holdings in Petco Health and Wellness by 186.9% during the 2nd quarter. California State Teachers Retirement System now owns 247,245 shares of the company's stock worth $673,000 after purchasing an additional 161,059 shares during the period. Bank of America Corp DE raised its position in Petco Health and Wellness by 6.7% in the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company's stock valued at $749,000 after purchasing an additional 16,825 shares in the last quarter. Finally, Amundi acquired a new stake in Petco Health and Wellness in the 1st quarter valued at about $54,000.

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.

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