Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 5.8% - What's Next?

Key Points

• Petco Health and Wellness (NASDAQ: WOOF) experienced a stock price drop of 5.8%, trading as low as $3.47, with a significant decline in trading volume of 67% from its average.
• Analysts have set new price targets for Petco, with Jefferies raising their target from $4.05 to $4.15 and several others indicating a mixture of Hold and Buy ratings, suggesting an average price target of $3.95.
• Petc's quarterly earnings exceeded estimates, reporting $0.05 earnings per share on revenue of $1.49 billion, although the company's revenue saw a 2.3% decline year-over-year.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s stock price dropped 5.8% during mid-day trading on Friday . The company traded as low as $3.49 and last traded at $3.47. Approximately 1,440,936 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 4,349,868 shares. The stock had previously closed at $3.68.

Analysts Set New Price Targets

WOOF has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on Petco Health and Wellness from $4.05 to $4.15 and gave the stock a "hold" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. UBS Group upped their price target on shares of Petco Health and Wellness from $3.25 to $3.70 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Robert W. Baird raised their price target 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, August 29th. Finally, Guggenheim restated a "neutral" rating on shares of Petco Health and Wellness in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $3.95.

Petco Health and Wellness Trading Down 5.8%

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -34.65 and a beta of 1.74. The firm's 50 day moving average is $3.33 and its two-hundred day moving average is $3.09. The company has a quick ratio of 0.31, a current ratio of 0.89 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 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Institutional Trading of Petco Health and Wellness

Hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP bought a new stake in Petco Health and Wellness in the 4th quarter valued at about $45,000. Wealth Enhancement Advisory Services LLC lifted its position in Petco Health and Wellness by 40.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after purchasing an additional 4,526 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Petco Health and Wellness in the 4th quarter valued at about $1,428,000. Bank of America Corp DE lifted its position in Petco Health and Wellness by 13.6% in the 4th quarter. Bank of America Corp DE now owns 1,099,137 shares of the company's stock valued at $4,188,000 after purchasing an additional 131,985 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Petco Health and Wellness by 513.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company's stock worth $8,009,000 after acquiring an additional 1,759,570 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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