Petco Health and Wellness (NASDAQ:WOOF) Shares Up 6.4% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price shot up 6.4% during mid-day trading on Wednesday . The stock traded as high as $2.85 and last traded at $2.8950. 206,881 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,320,406 shares. The stock had previously closed at $2.72.

Analyst Ratings Changes

A number of analysts recently weighed in on WOOF shares. UBS Group 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 Monday, March 16th. Citigroup reduced their target price on shares of Petco Health and Wellness from $4.00 to $3.25 and set a “neutral” rating for the company in a report on Thursday, June 4th. Zacks Research cut shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Jefferies Financial Group upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.05 to $5.00 in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Petco Health and Wellness presently has a consensus rating of “Hold” and an average price target of $3.89.

Petco Health and Wellness Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.29 and a debt-to-equity ratio of 1.27. The firm has a market cap of $911.68 million, a PE ratio of 141.57, a P/E/G ratio of 3.28 and a beta of 1.53. The company’s 50-day moving average is $2.80 and its 200 day moving average is $2.83.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Petco Health and Wellness had a net margin of 0.09% and a return on equity of 1.36%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that Petco Health and Wellness Company, Inc. will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Petco Health and Wellness by 280.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,412 shares of the company’s stock worth $3,221,000 after buying an additional 613,591 shares in the last quarter. Candlestick Capital Management LP purchased a new stake in Petco Health and Wellness in the 3rd quarter worth approximately $6,772,000. Union Square Park Capital Management LLC purchased a new stake in Petco Health and Wellness in the 3rd quarter worth approximately $677,000. Caprock Group LLC purchased a new position in Petco Health and Wellness in the third quarter valued at about $46,000. Finally, LSV Asset Management purchased a new position in Petco Health and Wellness in the third quarter valued at about $99,000.

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.