Petco Health and Wellness (NASDAQ:WOOF) Trading Down 8%

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) dropped 8% during trading on Thursday . The stock traded as low as $2.33 and last traded at $2.40. Approximately 3,528,781 shares changed hands during trading, a decline of 14% from the average daily volume of 4,082,025 shares. The stock had previously closed at $2.61.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America reaffirmed an "underperform" rating and issued a $1.50 target price (down previously from $5.00) on shares of Petco Health and Wellness in a report on Tuesday, April 2nd. Royal Bank of Canada cut their target price on Petco Health and Wellness from $3.50 to $2.70 and set an "outperform" rating for the company in a research report on Friday, March 15th. Robert W. Baird decreased their target price on Petco Health and Wellness from $3.00 to $2.50 and set a "neutral" rating on the stock in a research note on Thursday, March 14th. Wells Fargo & Company dropped their price target on Petco Health and Wellness from $3.00 to $2.00 and set an "equal weight" rating for the company in a research note on Monday, March 25th. Finally, Evercore ISI cut their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2.96.

Petco Health and Wellness Stock Down 5.7 %

The firm has a market cap of $756.13 million, a P/E ratio of -0.52 and a beta of 1.27. The company's 50-day simple moving average is $1.90 and its 200 day simple moving average is $2.64. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.24.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm earned $0.17 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Petco Health and Wellness by 12.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,290 shares of the company's stock worth $104,000 after buying an additional 4,836 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Petco Health and Wellness by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 382,413 shares of the company's stock valued at $1,564,000 after purchasing an additional 5,695 shares during the period. Orion Portfolio Solutions LLC grew its holdings in shares of Petco Health and Wellness by 117.9% in the third quarter. Orion Portfolio Solutions LLC now owns 22,318 shares of the company's stock worth $91,000 after purchasing an additional 12,076 shares during the last quarter. Everhart Financial Group Inc. purchased a new position in Petco Health and Wellness in the 4th quarter worth about $41,000. Finally, Headlands Technologies LLC bought a new stake in Petco Health and Wellness during the 1st quarter valued at about $30,000.

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.