Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down on Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price gapped down prior to trading on Thursday after Citigroup lowered their price target on the stock from $4.00 to $3.25. The stock had previously closed at $3.05, but opened at $2.72. Citigroup currently has a neutral rating on the stock. Petco Health and Wellness shares last traded at $2.5750, with a volume of 2,235,802 shares changing hands.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and raised their target price for the company from $4.05 to $5.00 in a research note on Thursday, March 12th. Wall Street Zen raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group raised their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, March 16th. Zacks Research cut shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, The Goldman Sachs Group cut shares of Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 target price for the company. in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Petco Health and Wellness has an average rating of “Hold” and an average target price of $3.89.

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in Petco Health and Wellness by 425.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,523 shares of the company’s stock valued at $30,000 after purchasing an additional 8,519 shares during the last quarter. Abel Hall LLC acquired a new stake in Petco Health and Wellness during the 4th quarter valued at $31,000. Cibc World Market Inc. acquired a new stake in Petco Health and Wellness during the 4th quarter valued at $32,000. HB Wealth Management LLC acquired a new stake in Petco Health and Wellness during the 1st quarter valued at $34,000. Finally, Quantbot Technologies LP acquired a new stake in Petco Health and Wellness during the 3rd quarter valued at $34,000.

Petco Health and Wellness Stock Down 1.4%

The firm has a fifty day simple moving average of $2.79 and a 200-day simple moving average of $2.83. The firm has a market cap of $911.67 million, a price-to-earnings ratio of 141.57, a P/E/G ratio of 3.71 and a beta of 1.53. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.38 and a current ratio of 0.85.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a net margin of 0.09% and a return on equity of 1.36%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that Petco Health and Wellness Company, Inc. will post 0.07 EPS for the current year.

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.