Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $3.62, but opened at $3.23. Petco Health and Wellness shares last traded at $2.79, with a volume of 4,619,524 shares.
The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Petco Health and Wellness had a negative return on equity of 5.40% and a negative net margin of 1.77%. Petco Health and Wellness's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on WOOF shares. Morgan Stanley lowered their price objective on 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. UBS Group dropped their price objective on Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a report on Thursday, March 27th. Robert W. Baird dropped their price objective on Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group upped their price objective on Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Wall Street Zen upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $3.75.
View Our Latest Stock Analysis on WOOF
Insider Transactions at Petco Health and Wellness
In other Petco Health and Wellness news, CEO Joel D. Anderson acquired 849,541 shares of the business's stock in a transaction dated Monday, March 31st. The shares were acquired at an average price of $3.03 per share, for a total transaction of $2,574,109.23. Following the acquisition, the chief executive officer now directly owns 853,304 shares of the company's stock, valued at approximately $2,585,511.12. This trade represents a 22,576.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Petco Health and Wellness
Institutional investors have recently modified their holdings of the business. Bleakley Financial Group LLC lifted its holdings in shares of Petco Health and Wellness by 14.3% during the 4th quarter. Bleakley Financial Group LLC now owns 45,122 shares of the company's stock valued at $172,000 after purchasing an additional 5,660 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Petco Health and Wellness during the 4th quarter valued at about $45,000. Principal Financial Group Inc. lifted its holdings in shares of Petco Health and Wellness by 27.0% during the 4th quarter. Principal Financial Group Inc. now owns 203,121 shares of the company's stock valued at $774,000 after purchasing an additional 43,229 shares in the last quarter. Norges Bank bought a new position in shares of Petco Health and Wellness during the 4th quarter valued at about $8,864,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Petco Health and Wellness during the 4th quarter valued at about $1,428,000.
Petco Health and Wellness Price Performance
The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The firm has a market cap of $831.93 million, a P/E ratio of -6.60 and a beta of 1.82. The company has a fifty day moving average price of $3.26 and a two-hundred day moving average price of $3.43.
About Petco Health and Wellness
(
Get Free Report)
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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