Petco Health and Wellness (NASDAQ:WOOF) Raised to "Buy" at Wall Street Zen

Key Points

• Petco Health and Wellness has been upgraded by Wall Street Zen from a "hold" to a "buy" rating, indicating positive sentiment from analysts.
• A number of major financial institutions have adjusted their price targets for Petco, with forecasts ranging from $3.70 to $4.50 per share.
• Petco's latest earnings report showed earnings per share of $0.05, surpassing analyst expectations, although its revenue dipped by 2.3% compared to the same quarter last year.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Friday.

WOOF has been the topic of several other research reports. Robert W. Baird upped their price target on Petco Health and Wellness from $3.50 to $4.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Morgan Stanley cut their price target on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company upped their price target on Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. UBS Group upped their price target on Petco Health and Wellness from $3.25 to $3.70 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $4.00 price objective on shares of Petco Health and Wellness in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $3.95.

Petco Health and Wellness Stock Up 2.8%

Shares of Petco Health and Wellness stock traded up $0.10 during midday trading on Friday, hitting $3.68. The company had a trading volume of 2,784,549 shares, compared to its average volume of 4,509,506. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.31 and a current ratio of 0.89. The stock has a market capitalization of $1.17 billion, a P/E ratio of -36.80 and a beta of 1.74. The company has a 50 day moving average of $3.33 and a 200 day moving average of $3.09. Petco Health and Wellness has a 52-week low of $2.28 and a 52-week high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. Petco Health and Wellness had a negative return on equity of 1.71% and a negative net margin of 0.47%.The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS. On average, equities analysts predict that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its holdings in shares of Petco Health and Wellness by 59.0% during the 2nd quarter. Osaic Holdings Inc. now owns 22,842 shares of the company's stock valued at $65,000 after buying an additional 8,480 shares during the period. State of Wyoming lifted its holdings in shares of Petco Health and Wellness by 126.1% during the 2nd quarter. State of Wyoming now owns 71,528 shares of the company's stock valued at $202,000 after buying an additional 39,898 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Petco Health and Wellness by 378.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 16,749 shares of the company's stock valued at $47,000 after buying an additional 13,251 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Petco Health and Wellness by 51.7% during the 2nd quarter. Captrust Financial Advisors now owns 25,991 shares of the company's stock valued at $74,000 after buying an additional 8,862 shares during the period. Finally, Holocene Advisors LP lifted its holdings in shares of Petco Health and Wellness by 57.5% during the 2nd quarter. Holocene Advisors LP now owns 4,291,073 shares of the company's stock valued at $12,144,000 after buying an additional 1,566,709 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.