Petco Health and Wellness (NASDAQ:WOOF) Earns Neutral Rating from Guggenheim

Key Points

• Petco Health and Wellness received a "neutral" rating from Guggenheim, with other analysts also issuing varied price targets and ratings, reflecting a cautious outlook on the stock.
• The company's stock price fell 5.4% to $3.78, and its target price from various analysts currently averages at $3.95.
• Petco reported a quarterly earnings per share (EPS) of $0.05, exceeding expectations, but its revenue declined by 2.3% year-over-year.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Guggenheim in a research note issued to investors on Tuesday,Benzinga reports.

Other analysts have also issued reports about the company. Jefferies Financial Group boosted their price target on Petco Health and Wellness from $4.05 to $4.15 and gave the company a "hold" rating in a report on Friday. Morgan Stanley dropped their target price on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research report on Friday, June 6th. UBS Group boosted their target price on Petco Health and Wellness from $3.25 to $3.70 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a "neutral" rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $3.95.

Petco Health and Wellness Stock Down 5.4%

Shares of WOOF stock traded down $0.22 during trading hours on Tuesday, hitting $3.78. 1,776,460 shares of the company were exchanged, compared to its average volume of 4,356,912. The business has a 50 day moving average of $3.21 and a two-hundred day moving average of $3.06. The company has a current ratio of 0.89, a quick ratio of 0.31 and a debt-to-equity ratio of 1.39. Petco Health and Wellness has a 52 week low of $2.28 and a 52 week high of $6.29. The company has a market capitalization of $1.19 billion, a PE ratio of -37.65 and a beta of 1.74.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.49 billion. Petco Health and Wellness had a negative net margin of 0.47% and a negative return on equity of 1.71%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS. Analysts anticipate that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP acquired a new stake in Petco Health and Wellness in the 4th quarter valued at about $45,000. Wealth Enhancement Advisory Services LLC raised its stake in Petco Health and Wellness by 40.0% in the fourth 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 during the period. BNP Paribas Financial Markets acquired a new stake in shares of Petco Health and Wellness in the fourth quarter valued at approximately $1,428,000. Bank of America Corp DE lifted its position in shares of Petco Health and Wellness by 13.6% in the fourth quarter. Bank of America Corp DE now owns 1,099,137 shares of the company's stock valued at $4,188,000 after buying an additional 131,985 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Petco Health and Wellness by 269.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company's stock worth $12,354,000 after acquiring an additional 2,365,654 shares during the period.

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.

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