Petco Health and Wellness (NASDAQ:WOOF) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Analysts at Robert W. Baird raised the target price for Petco Health and Wellness (NASDAQ:WOOF) from $3.50 to $4.00, indicating a potential upside of 23.84%.
• Petco's recent earnings report showed an EPS of $0.05, surpassing analysts' expectations, although the company's revenue decreased by 2.3% compared to the previous year.
• Institutional investors are actively buying Petco shares, with notable increases in positions from firms like Caitong International Asset Management and R Squared Ltd.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) had its target price raised by investment analysts at Robert W. Baird from $3.50 to $4.00 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 23.84% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Morgan Stanley cut 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 report on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $3.81.

Petco Health and Wellness Price Performance

WOOF opened at $3.23 on Friday. The stock has a 50-day moving average price of $3.16 and a 200-day moving average price of $3.05. Petco Health and Wellness has a 12-month low of $2.28 and a 12-month high of $6.29. The company has a current ratio of 0.85, a quick ratio of 0.25 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $1.02 billion, a P/E ratio of -13.46 and a beta of 1.72.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. Petco Health and Wellness had a negative return on equity of 4.29% and a negative net margin of 1.10%.The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts predict that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

Several institutional investors have recently bought and sold shares of WOOF. Brookwood Investment Group LLC purchased a new stake in Petco Health and Wellness during the 2nd quarter valued at about $28,000. Focus Partners Advisor Solutions LLC bought a new position in Petco Health and Wellness during the 1st quarter valued at approximately $31,000. Concurrent Investment Advisors LLC bought a new position in Petco Health and Wellness during the 2nd quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd raised its position in Petco Health and Wellness by 747.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock valued at $31,000 after purchasing an additional 9,782 shares during the last quarter. Finally, R Squared Ltd raised 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 last quarter.

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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