Petco Health and Wellness (NASDAQ:WOOF) Price Target Cut to $2.70

Petco Health and Wellness (NASDAQ:WOOF) had its target price decreased by stock analysts at Royal Bank of Canada from $3.50 to $2.70 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 34.33% from the stock’s previous close.

WOOF has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on shares of Petco Health and Wellness from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, November 30th. Jefferies Financial Group assumed coverage on shares of Petco Health and Wellness in a research note on Tuesday, December 19th. They set a “hold” rating and a $3.11 price objective on the stock. Wedbush decreased their price objective on shares of Petco Health and Wellness from $4.50 to $3.50 and set an “outperform” rating on the stock in a research note on Thursday, November 30th. Needham & Company LLC decreased their price objective on shares of Petco Health and Wellness from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Finally, Robert W. Baird cut shares of Petco Health and Wellness from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $8.00 to $3.00 in a research note on Thursday, November 30th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.28.

Petco Health and Wellness Stock Performance

NASDAQ WOOF traded down $0.10 during midday trading on Friday, hitting $2.01. The company had a trading volume of 4,294,293 shares, compared to its average volume of 4,151,540. The stock has a market cap of $615.62 million, a price-to-earnings ratio of -0.42 and a beta of 1.17. The firm has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $3.29. Petco Health and Wellness has a fifty-two week low of $1.97 and a fifty-two week high of $10.76. The company has a quick ratio of 0.25, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities analysts forecast that Petco Health and Wellness will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Large investors have recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new position in Petco Health and Wellness in the first quarter valued at approximately $25,000. Deutsche Bank AG lifted its holdings in Petco Health and Wellness by 607.8% in the fourth quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock valued at $36,000 after buying an additional 3,288 shares during the period. Advisory Services Network LLC lifted its holdings in Petco Health and Wellness by 61.9% in the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock valued at $37,000 after buying an additional 1,554 shares during the period. FMR LLC lifted its holdings in Petco Health and Wellness by 1,396.5% in the first quarter. FMR LLC now owns 5,148 shares of the company’s stock valued at $46,000 after buying an additional 4,804 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Petco Health and Wellness by 384.1% in the first quarter. Belpointe Asset Management LLC now owns 7,625 shares of the company’s stock valued at $69,000 after buying an additional 6,050 shares during the period. 48.54% of the stock is currently owned by institutional investors and hedge funds.

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.