Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 5.8% - Should You Sell?

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) shares dropped 5.8% on Friday . The stock traded as low as $3.49 and last traded at $3.47. Approximately 1,440,936 shares were traded during trading, a decline of 67% from the average daily volume of 4,349,868 shares. The stock had previously closed at $3.68.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. Guggenheim restated a "neutral" rating on shares of Petco Health and Wellness in a report on Tuesday, September 2nd. Robert W. Baird raised their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Royal Bank Of Canada restated an "outperform" rating and set a $4.00 target price on shares of Petco Health and Wellness in a report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $3.95.

Petco Health and Wellness Stock Down 1.4%

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -34.70 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. The business's fifty day simple moving average is $3.37 and its 200 day simple moving average is $3.11.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $1.49 billion during 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%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. Equities analysts forecast that Petco Health and Wellness Company, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of large investors have recently modified their holdings of WOOF. Quantinno Capital Management LP acquired a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $45,000. Wealth Enhancement Advisory Services LLC boosted its position in Petco Health and Wellness by 40.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after buying an additional 4,526 shares in the last quarter. Bank of America Corp DE boosted its position in Petco Health and Wellness by 13.6% in the fourth quarter. Bank of America Corp DE now owns 1,099,137 shares of the company's stock valued at $4,188,000 after buying an additional 131,985 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Petco Health and Wellness by 513.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company's stock valued at $8,009,000 after buying an additional 1,759,570 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Petco Health and Wellness by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,615 shares of the company's stock valued at $1,279,000 after buying an additional 11,202 shares in the last quarter.

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.