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

Key Points

• Wall Street Zen has upgraded Petco Health and Wellness (NASDAQ:WOOF) from a "hold" rating to a "buy" rating, indicating a more favorable outlook for the stock.
• Petco's share price currently stands at $3.83, with a 12-month trading range between $2.28 and $6.29.
• Analysts have set a consensus price target of $3.95, with several firms adjusting their target prices in recent reports.

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 note issued to investors on Saturday.

Several other research analysts have also recently commented on WOOF. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $4.00 target price on shares of Petco Health and Wellness in a report on Wednesday, September 3rd. Wells Fargo & Company raised their target price 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. Morgan Stanley lowered their target price on shares of Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Friday, June 6th. Robert W. Baird raised their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Finally, Jefferies Financial Group raised their target price on shares of Petco Health and Wellness from $4.05 to $4.15 and gave the stock a "hold" rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.95.

Petco Health and Wellness Trading Down 1.0%

Shares of WOOF stock opened at $3.83 on Friday. The firm has a 50 day moving average price of $3.44 and a two-hundred day moving average price of $3.20. The company has a quick ratio of 0.31, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $1.22 billion, a PE ratio of -38.30 and a beta of 1.73. Petco Health and Wellness has a 12-month low of $2.28 and a 12-month high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate 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 business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted ($0.02) earnings per share. As a group, analysts predict that Petco Health and Wellness will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently modified their holdings of WOOF. Brookwood Investment Group LLC acquired a new position in shares of Petco Health and Wellness during the second quarter worth $28,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Petco Health and Wellness during the first quarter worth about $31,000. Concurrent Investment Advisors LLC bought a new stake in Petco Health and Wellness in the 2nd quarter worth about $31,000. Caitong International Asset Management Co. Ltd grew its position in Petco Health and Wellness by 747.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company's stock worth $31,000 after purchasing an additional 9,782 shares in the last quarter. Finally, R Squared Ltd grew its position in Petco Health and Wellness by 152.7% in the 1st quarter. R Squared Ltd now owns 10,670 shares of the company's stock worth $33,000 after purchasing an additional 6,447 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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