Wells Fargo & Company Increases Petco Health and Wellness (NASDAQ:WOOF) Price Target to $4.00

Key Points

• Petco Health and Wellness has seen its price target increased by Wells Fargo & Company from $3.50 to $4.00, indicating a potential upside of 5.18% from its previous close.
• Despite the increase, various analysts have mixed ratings on Petco, with three giving it a Buy rating and five rating it as Hold.
• The company reported earnings of $0.05 per share for the last quarter, exceeding expectations, although its revenue was down 2.3% compared to the same quarter last year.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) had its price objective lifted by investment analysts at Wells Fargo & Company from $3.50 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 0.25% from the stock's previous close.

A number of other research firms have also recently issued reports on WOOF. Robert W. Baird lifted their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley cut their target price on shares of Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.95.

Petco Health and Wellness Price Performance

Shares of NASDAQ:WOOF traded up $0.76 during trading on Friday, reaching $3.99. The stock had a trading volume of 23,259,005 shares, compared to its average volume of 4,104,118. Petco Health and Wellness has a 52 week low of $2.28 and a 52 week high of $6.29. The business's 50-day moving average price is $3.19 and its 200 day moving average price is $3.05. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.31 and a current ratio of 0.89.

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

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently made changes to their positions in the company. Brookwood Investment Group LLC acquired a new position in shares of Petco Health and Wellness in the 2nd quarter valued at $28,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Petco Health and Wellness in the 1st quarter valued at $31,000. R Squared Ltd grew its holdings in shares of Petco Health and Wellness by 152.7% in the 1st quarter. R Squared Ltd now owns 10,670 shares of the company's stock valued at $33,000 after buying an additional 6,447 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Petco Health and Wellness in the 2nd quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Petco Health and Wellness by 747.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock valued at $31,000 after buying an additional 9,782 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.