Petco Health and Wellness (NASDAQ:WOOF) Price Target Cut to $4.50 by Analysts at Morgan Stanley

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) had its price objective reduced by research analysts at Morgan Stanley from $5.00 to $4.50 in a research report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 70.45% from the stock's previous close.

A number of other analysts have also recently weighed in on WOOF. Wedbush reduced their price target on Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Robert W. Baird reduced their price target on Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Citigroup reduced their price target on Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. UBS Group reduced their price target on Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price target on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an "equal weight" rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Petco Health and Wellness has an average rating of "Hold" and a consensus price target of $3.75.

Petco Health and Wellness Stock Down 5.0%

WOOF traded down $0.14 during trading on Friday, reaching $2.64. 10,285,236 shares of the stock traded hands, compared to its average volume of 4,425,295. The stock has a market cap of $831.93 million, a price-to-earnings ratio of -6.60 and a beta of 1.82. Petco Health and Wellness has a fifty-two week low of $2.23 and a fifty-two week high of $6.29. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The stock's 50-day simple moving average is $3.24 and its two-hundred day simple moving average is $3.42.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). Petco Health and Wellness had a negative return on equity of 5.40% and a negative net margin of 1.77%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned ($0.04) EPS. Petco Health and Wellness's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Petco Health and Wellness will post -0.22 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joel D. Anderson purchased 849,541 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $2,574,109.23. Following the completion of the purchase, the chief executive officer now directly owns 853,304 shares of the company's stock, valued at approximately $2,585,511.12. The trade was a 22,576.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Petco Health and Wellness during the fourth quarter valued at about $25,000. Focus Partners Advisor Solutions LLC bought a new position in Petco Health and Wellness during the first quarter valued at about $31,000. R Squared Ltd increased its stake in Petco Health and Wellness by 152.7% during the first quarter. R Squared Ltd now owns 10,670 shares of the company's stock valued at $33,000 after acquiring an additional 6,447 shares during the period. Scotia Capital Inc. bought a new position in Petco Health and Wellness during the fourth quarter valued at about $41,000. Finally, Blueprint Investment Partners LLC bought a new position in Petco Health and Wellness during the fourth quarter valued at about $44,000.

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.