Petco Health and Wellness (NASDAQ:WOOF) Shares Up 5.1% - Here's What Happened

Key Points

• Petco Health and Wellness's stock price increased by 5.1% to $3.82, despite a 59% decline in trading volume compared to its average session.
• Analysts have set a range of new price targets; notable changes include UBS Group raising its target from $3.25 to $3.70, and Royal Bank of Canada setting a target of $4.00.
• In its recent quarterly earnings report, Petco surpassed earnings estimates with an EPS of $0.05, but showed a 2.3% year-over-year decrease in revenue.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price shot up 5.1% on Tuesday . The company traded as high as $3.80 and last traded at $3.82. 1,731,255 shares traded hands during trading, a decline of 59% from the average session volume of 4,227,816 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WOOF. Wall Street Zen downgraded shares of Petco Health and Wellness from a "buy" rating to a "hold" rating in a research report on Friday. Guggenheim reissued a "neutral" rating on shares of Petco Health and Wellness in a research report on Tuesday, September 2nd. UBS Group increased their target price on shares of Petco Health and Wellness from $3.25 to $3.70 and gave the company a "neutral" rating in a research report on Friday, August 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $4.00 target price on shares of Petco Health and Wellness in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group increased their target price on shares of Petco Health and Wellness from $4.05 to $4.15 and gave the company a "hold" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Petco Health and Wellness has an average rating of "Hold" and an average price target of $3.95.

Petco Health and Wellness Stock Performance

The company's fifty day moving average is $3.44 and its 200 day moving average is $3.18. The company has a market capitalization of $1.23 billion, a P/E ratio of -38.70 and a beta of 1.74. 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 (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate 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%. Petco Health and Wellness's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. As a group, equities analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WOOF. Long Focus Capital Management LLC bought a new position in Petco Health and Wellness in the 1st quarter valued at $12,923,000. Solas Capital Management LLC bought a new position in Petco Health and Wellness in the 1st quarter valued at $9,150,000. Cresset Asset Management LLC bought a new position in Petco Health and Wellness in the 1st quarter valued at $7,675,000. Nuveen LLC bought a new position in Petco Health and Wellness in the 1st quarter valued at $6,341,000. Finally, Holocene Advisors LP boosted its holdings in Petco Health and Wellness by 57.5% in the 2nd quarter. Holocene Advisors LP now owns 4,291,073 shares of the company's stock valued at $12,144,000 after purchasing an additional 1,566,709 shares during the period.

About Petco Health and Wellness

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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