Petco Health and Wellness (NASDAQ:WOOF) Rating Increased to Strong-Buy at Zacks Research

Petco Health and Wellness (NASDAQ:WOOF) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on WOOF. Citigroup increased their price objective on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Monday, March 16th. UBS Group boosted 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 research note on Monday, March 16th. Jefferies Financial Group upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and upped their price target for the stock from $4.05 to $5.00 in a research report on Thursday, March 12th. Evercore decreased their price target on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Petco Health and Wellness in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.06.

Petco Health and Wellness Stock Up 4.9%

Shares of WOOF opened at $2.81 on Tuesday. The firm has a market cap of $905.24 million, a P/E ratio of 93.67 and a beta of 1.62. Petco Health and Wellness has a 12 month low of $2.24 and a 12 month high of $4.51. The stock’s 50 day moving average is $2.69 and its two-hundred day moving average is $3.02. The company has a current ratio of 0.90, a quick ratio of 0.38 and a debt-to-equity ratio of 1.28.

Petco Health and Wellness (NASDAQ:WOOF) last announced its earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Petco Health and Wellness had a net margin of 0.15% and a return on equity of 0.89%. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned ($0.05) EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts predict that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Petco Health and Wellness by 9.1% in the 1st quarter. AQR Capital Management LLC now owns 1,274,588 shares of the company’s stock valued at $3,887,000 after buying an additional 106,295 shares during the period. Goldman Sachs Group Inc. raised its position in Petco Health and Wellness by 60.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock valued at $11,095,000 after purchasing an additional 1,367,299 shares during the period. Creative Planning lifted its stake in Petco Health and Wellness by 14.8% during the second quarter. Creative Planning now owns 36,779 shares of the company’s stock worth $104,000 after purchasing an additional 4,734 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Petco Health and Wellness by 17.6% during the second quarter. Cetera Investment Advisers now owns 28,419 shares of the company’s stock worth $80,000 after buying an additional 4,258 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Petco Health and Wellness by 23.9% in the second quarter. Legal & General Group Plc now owns 126,352 shares of the company’s stock valued at $358,000 after buying an additional 24,369 shares in the last quarter.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.