Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 4.8% - Here's Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s stock price fell 4.8% on Wednesday . The stock traded as low as $2.68 and last traded at $2.70. 1,571,613 shares were traded during mid-day trading, a decline of 63% from the average session volume of 4,216,900 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

Several research firms recently weighed in on WOOF. UBS Group decreased their target price on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their price objective on shares of Petco Health and Wellness from $4.00 to $4.48 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley reduced their price objective 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 report on Friday, June 6th. Robert W. Baird reduced their price objective on shares of Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, Wedbush reduced their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Petco Health and Wellness has an average rating of "Hold" and an average price target of $3.75.

Petco Health and Wellness Price Performance

The company has a 50 day moving average price of $3.08 and a 200-day moving average price of $3.12. The company has a quick ratio of 0.25, a current ratio of 0.85 and a debt-to-equity ratio of 1.43. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -13.75 and a beta of 1.71.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Petco Health and Wellness had a negative net margin of 1.10% and a negative return on equity of 4.29%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned ($0.04) EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WOOF. Aster Capital Management DIFC Ltd acquired a new stake in Petco Health and Wellness during the 4th quarter valued at approximately $25,000. Focus Partners Advisor Solutions LLC acquired a new stake in Petco Health and Wellness during the 1st quarter valued at approximately $31,000. R Squared Ltd increased its position in Petco Health and Wellness by 152.7% during the 1st quarter. R Squared Ltd now owns 10,670 shares of the company's stock valued at $33,000 after purchasing an additional 6,447 shares during the period. Scotia Capital Inc. acquired a new stake in Petco Health and Wellness during the 4th quarter valued at approximately $41,000. Finally, Blueprint Investment Partners LLC acquired a new stake in Petco Health and Wellness during the 4th quarter valued at approximately $44,000.

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.