Petco Health and Wellness (NASDAQ:WOOF) Stock Rating Upgraded by 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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

A number of other research analysts also recently commented on WOOF. Morgan Stanley lowered their price target on shares of 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. UBS Group lifted their price objective on shares of Petco Health and Wellness from $3.25 to $3.70 and gave the company a "neutral" rating in a report on Friday, August 29th. Wells Fargo & Company lifted their price target on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Royal Bank Of Canada reiterated an "outperform" rating and set a $4.00 price objective on shares of Petco Health and Wellness in a research note on Wednesday. Finally, Guggenheim restated a "neutral" rating on shares of Petco Health and Wellness in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $3.95.

Petco Health and Wellness Trading Up 7.3%

NASDAQ:WOOF opened at $3.67 on Friday. Petco Health and Wellness has a one year low of $2.28 and a one year high of $6.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.31. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -36.70 and a beta of 1.74. The business has a fifty day moving average price of $3.27 and a 200-day moving average price of $3.07.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last issued its quarterly earnings results 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 1.71% and a negative net margin of 0.47%.The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business posted ($0.02) EPS. Petco Health and Wellness's revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that Petco Health and Wellness will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.