Wells Fargo & Company Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $2.00

Petco Health and Wellness (NASDAQ:WOOF) had its price target cut by Wells Fargo & Company from $3.00 to $2.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also weighed in on WOOF. The Goldman Sachs Group cut their price objective on shares of Petco Health and Wellness from $7.00 to $5.00 and set a buy rating on the stock in a report on Thursday, November 30th. Evercore ISI lowered their price objective on shares of Petco Health and Wellness from $4.00 to $3.00 and set an in-line rating for the company in a research report on Friday, March 15th. Jefferies Financial Group began coverage on shares of Petco Health and Wellness in a research report on Tuesday, December 19th. They set a hold rating and a $3.11 price objective for the company. Needham & Company LLC reaffirmed a buy rating and issued a $5.00 target price on shares of Petco Health and Wellness in a research report on Wednesday, March 13th. Finally, Robert W. Baird decreased their target price on shares of Petco Health and Wellness from $3.00 to $2.50 and set a neutral rating for the company in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Petco Health and Wellness has an average rating of Hold and a consensus price target of $4.36.

Petco Health and Wellness Stock Performance

NASDAQ WOOF opened at $2.28 on Monday. The stock has a market cap of $698.32 million, a P/E ratio of -0.48 and a beta of 1.17. The company’s 50-day simple moving average is $2.46 and its 200 day simple moving average is $3.13. Petco Health and Wellness has a twelve month low of $1.87 and a twelve month high of $10.76. The company has a quick ratio of 0.24, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Petco Health and Wellness

A number of hedge funds have recently modified their holdings of WOOF. MetLife Investment Management LLC bought a new position in Petco Health and Wellness during the first quarter worth about $25,000. Deutsche Bank AG boosted its position in Petco Health and Wellness by 607.8% during the 4th quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock worth $36,000 after buying an additional 3,288 shares during the period. Advisory Services Network LLC boosted its position in Petco Health and Wellness by 61.9% during the 1st quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock worth $37,000 after buying an additional 1,554 shares during the period. FMR LLC lifted its position in shares of Petco Health and Wellness by 1,396.5% in the 1st quarter. FMR LLC now owns 5,148 shares of the company’s stock worth $46,000 after purchasing an additional 4,804 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in shares of Petco Health and Wellness by 384.1% in the 1st quarter. Belpointe Asset Management LLC now owns 7,625 shares of the company’s stock worth $69,000 after purchasing an additional 6,050 shares during the period.

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.