Petco Health and Wellness (NASDAQ:WOOF) Stock Price Up 8.1% – Still a Buy?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price was up 8.1% during mid-day trading on Wednesday . The company traded as high as $4.96 and last traded at $4.92. Approximately 850,334 shares were traded during trading, a decline of 81% from the average daily volume of 4,551,048 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

A number of research analysts have issued reports on WOOF shares. The Goldman Sachs Group reduced their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. StockNews.com raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday. Wedbush boosted their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Trading Up 10.1 %

The stock has a market cap of $1.56 billion, a P/E ratio of -12.60 and a beta of 1.89. The stock’s fifty day moving average price is $4.61 and its 200 day moving average price is $3.87. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. Petco Health and Wellness’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. Equities research analysts expect that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Petco Health and Wellness

Several hedge funds and other institutional investors have recently bought and sold shares of WOOF. AQR Capital Management LLC lifted its stake in Petco Health and Wellness by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after acquiring an additional 2,953,667 shares during the period. Millennium Management LLC lifted its stake in Petco Health and Wellness by 233.7% during the 2nd quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after acquiring an additional 1,876,233 shares during the period. Point72 Asset Management L.P. lifted its stake in Petco Health and Wellness by 1,212.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after acquiring an additional 1,677,179 shares during the period. Marshall Wace LLP lifted its stake in Petco Health and Wellness by 47.3% during the 2nd quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock valued at $12,857,000 after acquiring an additional 1,092,204 shares during the period. Finally, FMR LLC lifted its stake in Petco Health and Wellness by 170.9% during the 3rd quarter. FMR LLC now owns 1,521,516 shares of the company’s stock valued at $6,923,000 after acquiring an additional 959,960 shares during the period.

About Petco Health and Wellness

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.