Petco Health and Wellness (NASDAQ:WOOF) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Petco Health and Wellness from “strong buy” to “hold.” Across analysts, the stock has one Buy, seven Hold, and one Sell rating, with a consensus price target of $3.42.
• Petco reported quarterly EPS of $0.13, beating the $0.07 consensus estimate; revenue of $1.49 billion matched expectations.
• Shares opened at $2.69 and were down 1.8%; the stock’s 52-week range is $2.14 to $3.78.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Sunday, September 13th. Robert W. Baird increased their price target on Petco Health and Wellness from $3.00 to $3.25 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. UBS Group lowered their price objective on Petco Health and Wellness from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Weiss Ratings upgraded shares of Petco Health and Wellness from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 22nd. Finally, BNP Paribas Exane cut their price target on Petco Health and Wellness from $2.34 to $2.11 and set an "underperform" rating on the stock in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Petco Health and Wellness presently has an average rating of "Hold" and a consensus target price of $3.42.

Petco Health and Wellness Stock Down 1.8%

Shares of NASDAQ WOOF opened at $2.69 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The business's 50 day moving average is $2.43 and its two-hundred day moving average is $2.67. Petco Health and Wellness has a 52-week low of $2.14 and a 52-week high of $3.78. The firm has a market cap of $872.12 million, a price-to-earnings ratio of 26.90, a PEG ratio of 2.49 and a beta of 1.51.

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. 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business posted $0.05 earnings per share. Research analysts predict that Petco Health and Wellness will post 0.10 EPS for the current year.

Institutional Trading of Petco Health and Wellness

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verus Capital Partners LLC acquired a new stake in shares of Petco Health and Wellness in the third quarter valued at approximately $31,000. Corecam Pte. Ltd. increased its stake in Petco Health and Wellness by 71.3% in the third quarter. Corecam Pte. Ltd. now owns 51,166 shares of the company's stock valued at $116,000 after purchasing an additional 21,297 shares during the period. Engineers Gate Manager LP raised its holdings 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 buying an additional 47,806 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Petco Health and Wellness in the 2nd quarter valued at about $723,000. Finally, Bank of America Corp DE increased 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 acquiring an additional 16,825 shares during the period.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc is a U.S.-based pet health and wellness retailer operating under the Petco brand. The company serves pet owners through a combination of brick-and-mortar stores, digital commerce channels and service locations, offering products and services for dogs, cats, fish, birds, reptiles and other companion animals.

Petco's merchandise includes pet food, treats, toys, bedding, habitats, grooming supplies and other everyday care products. Its services include veterinary care, grooming, training, adoption support and other wellness offerings.

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