Zacks Research Downgrades Petco Health and Wellness (NASDAQ:WOOF) to Hold

Petco Health and Wellness (NASDAQ:WOOF) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 price target on the stock. in a report on Monday, April 13th. Evercore reduced their target price on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating on the stock in a report on Tuesday, February 3rd. Jefferies Financial Group raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and boosted their target price for the stock from $4.05 to $5.00 in a report on Thursday, March 12th. Citigroup 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 report on Monday, March 16th. Finally, 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 report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.04.

Petco Health and Wellness Trading Down 3.1%

Shares of Petco Health and Wellness stock opened at $2.47 on Monday. The firm has a market capitalization of $795.71 million, a PE ratio of 82.33, a price-to-earnings-growth ratio of 3.31 and a beta of 1.53. The company has a current ratio of 0.90, a quick ratio of 0.38 and a debt-to-equity ratio of 1.28. The firm’s 50 day moving average is $2.82 and its 200 day moving average is $2.85. Petco Health and Wellness has a 1 year low of $2.24 and a 1 year high of $4.51.

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). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. Petco Health and Wellness had a net margin of 0.15% and a return on equity of 0.89%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Equities research analysts forecast that Petco Health and Wellness will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in Petco Health and Wellness by 6.7% during the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company’s stock worth $749,000 after acquiring an additional 16,825 shares during the last quarter. Amundi bought a new stake in Petco Health and Wellness during the 1st quarter worth approximately $54,000. Renaissance Technologies LLC bought a new stake in shares of Petco Health and Wellness in the 1st quarter valued at $1,455,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Petco Health and Wellness in the 1st quarter valued at $527,000. Finally, Sei Investments Co. boosted its stake in shares of Petco Health and Wellness by 36.3% in the 1st quarter. Sei Investments Co. now owns 149,391 shares of the company’s stock valued at $415,000 after purchasing an additional 39,762 shares during the last quarter.

About Petco Health and Wellness

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.