Petco Health and Wellness (NASDAQ:WOOF) Given New $4.50 Price Target at Morgan Stanley

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) had its price objective cut by research analysts at Morgan Stanley from $5.00 to $4.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 61.87% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. UBS Group dropped their price objective on Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Citigroup decreased their target price 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. Royal Bank of Canada decreased their target price 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. Wedbush decreased their target price 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. Finally, The Goldman Sachs Group raised their target price on Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness currently has an average rating of "Hold" and an average price target of $3.75.

Petco Health and Wellness Stock Down 23.2%

NASDAQ:WOOF traded down $0.84 during trading hours on Friday, hitting $2.78. 24,405,136 shares of the company traded hands, compared to its average volume of 4,399,943. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm's 50-day simple moving average is $3.26 and its 200-day simple moving average is $3.44. Petco Health and Wellness has a one year low of $2.23 and a one year high of $6.29. The company has a market cap of $876.05 million, a PE ratio of -6.95 and a beta of 1.82.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted ($0.04) earnings per share. Petco Health and Wellness's revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Petco Health and Wellness will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Joel D. Anderson acquired 736,547 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average price of $2.91 per share, with a total value of $2,143,351.77. Following the acquisition, the chief executive officer now owns 736,547 shares in the company, valued at $2,143,351.77. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its holdings in Petco Health and Wellness by 47.6% during the 4th quarter. New York State Common Retirement Fund now owns 11,508 shares of the company's stock valued at $44,000 after buying an additional 3,711 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Petco Health and Wellness by 40.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after buying an additional 4,526 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Petco Health and Wellness by 41.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 15,841 shares of the company's stock valued at $60,000 after buying an additional 4,610 shares in the last quarter. Swiss National Bank grew its holdings in Petco Health and Wellness by 2.6% during the 4th quarter. Swiss National Bank now owns 186,100 shares of the company's stock valued at $709,000 after buying an additional 4,800 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Petco Health and Wellness by 0.5% during the 4th quarter. Renaissance Technologies LLC now owns 990,700 shares of the company's stock valued at $3,775,000 after buying an additional 5,100 shares in the last quarter.

About Petco Health and Wellness

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.