Petco Health and Wellness (NASDAQ:WOOF) Trading 6.9% Higher - Should You Buy?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price rose 6.9% during mid-day trading on Friday . The company traded as high as $3.07 and last traded at $3.18. Approximately 261,795 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,202,000 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

Several brokerages recently commented on WOOF. Wells Fargo & Company increased their price objective on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Wall Street Zen raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Wedbush decreased their price objective on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Morgan Stanley cut their target price 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. Finally, The Goldman Sachs Group lifted their target price on Petco Health and Wellness from $4.00 to $4.48 and gave the stock a "buy" rating in a report on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $3.75.

Petco Health and Wellness Price Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -13.40 and a beta of 1.71. 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 firm has a 50 day moving average price of $3.08 and a 200-day moving average price of $3.12.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). Petco Health and Wellness had a negative net margin of 1.10% and a negative return on equity of 4.29%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned ($0.04) EPS. The company's revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Petco Health and Wellness Company, Inc. will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. HB Wealth Management LLC bought a new position in Petco Health and Wellness in the second quarter worth approximately $33,000. Counterpoint Mutual Funds LLC bought a new position in Petco Health and Wellness in the second quarter worth approximately $665,000. Wealth Enhancement Advisory Services LLC grew its stake in Petco Health and Wellness by 286.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 39,038 shares of the company's stock worth $120,000 after purchasing an additional 28,927 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in Petco Health and Wellness in the second quarter worth approximately $81,000. Finally, Empowered Funds LLC grew its stake in Petco Health and Wellness by 21.3% in the first quarter. Empowered Funds LLC now owns 1,437,897 shares of the company's stock worth $4,386,000 after purchasing an additional 252,653 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.

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