Wells Fargo & Company Increases Petco Health and Wellness (NASDAQ:WOOF) Price Target to $3.50

Petco Health and Wellness (NASDAQ:WOOF - Free Report) had its price objective lifted by Wells Fargo & Company from $3.00 to $3.50 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

WOOF has been the topic of a number of other research reports. Citigroup dropped their price target on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Wedbush dropped their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating on the stock in a research note on Thursday, March 27th. UBS Group lowered their target price on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Finally, Robert W. Baird lowered their target price on shares of Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $3.75.

Petco Health and Wellness Trading Down 5.0%

Petco Health and Wellness stock traded down $0.14 during mid-day trading on Friday, reaching $2.64. 10,285,236 shares of the company traded hands, compared to its average volume of 4,425,295. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The firm's 50 day moving average price is $3.26 and its 200 day moving average price is $3.43. The firm has a market capitalization of $831.93 million, a price-to-earnings ratio of -6.60 and a beta of 1.82. Petco Health and Wellness has a 52-week low of $2.23 and a 52-week high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. On average, analysts anticipate that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joel D. Anderson bought 849,541 shares of the firm's stock in a transaction on Monday, March 31st. The shares were bought at an average price of $3.03 per share, for a total transaction of $2,574,109.23. Following the purchase, the chief executive officer now owns 853,304 shares in the company, valued at approximately $2,585,511.12. The trade was a 22,576.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Petco Health and Wellness by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 8,691,631 shares of the company's stock worth $26,509,000 after acquiring an additional 682,099 shares during the period. Long Focus Capital Management LLC purchased a new stake in Petco Health and Wellness during the 1st quarter valued at approximately $12,923,000. Goldman Sachs Group Inc. grew its holdings in Petco Health and Wellness by 60.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company's stock valued at $11,095,000 after buying an additional 1,367,299 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Petco Health and Wellness by 269.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company's stock valued at $12,354,000 after buying an additional 2,365,654 shares in the last quarter. Finally, Solas Capital Management LLC purchased a new stake in Petco Health and Wellness during the 1st quarter valued at approximately $9,150,000.

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.