Petco Health and Wellness (NASDAQ:WOOF) Shares Down 5.6%

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares were down 5.6% during mid-day trading on Friday . The company traded as low as $1.75 and last traded at $1.76. Approximately 1,027,548 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,063,844 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WOOF shares. Bank of America reiterated an "underperform" rating and issued a $1.50 price target (down previously from $5.00) on shares of Petco Health and Wellness in a report on Tuesday, April 2nd. Robert W. Baird cut their price target on shares of Petco Health and Wellness from $3.00 to $2.50 and set a "neutral" rating for the company in a report on Thursday, March 14th. Evercore ISI cut their price target on shares of Petco Health and Wellness from $4.00 to $3.00 and set an "in-line" rating for the company in a report on Friday, March 15th. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price target on shares of Petco Health and Wellness in a report on Wednesday, March 13th. Finally, UBS Group lowered their price objective on shares of Petco Health and Wellness from $3.00 to $2.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $3.65.

Petco Health and Wellness Stock Performance

The company's 50 day simple moving average is $2.34 and its 200-day simple moving average is $2.97. The company has a current ratio of 0.86, a quick ratio of 0.24 and a debt-to-equity ratio of 1.33.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.63 billion. During the same period last year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC purchased a new position in Petco Health and Wellness in the first quarter valued at approximately $25,000. Advisory Services Network LLC raised its holdings in Petco Health and Wellness by 61.9% in the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company's stock valued at $37,000 after buying an additional 1,554 shares during the period. Brinker Capital Investments LLC raised its holdings in Petco Health and Wellness by 4.5% in the first quarter. Brinker Capital Investments LLC now owns 39,780 shares of the company's stock valued at $778,000 after buying an additional 1,711 shares during the period. Osaic Holdings Inc. raised its holdings in Petco Health and Wellness by 13.4% in the second quarter. Osaic Holdings Inc. now owns 15,671 shares of the company's stock valued at $140,000 after buying an additional 1,857 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Petco Health and Wellness by 15.3% in the third quarter. Ensign Peak Advisors Inc now owns 14,390 shares of the company's stock valued at $161,000 after buying an additional 1,910 shares during the period.

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.