Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down to $3.99

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.99, but opened at $3.84. Petco Health and Wellness shares last traded at $3.81, with a volume of 210,782 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WOOF shares. Wells Fargo & Company lowered their price objective on Petco Health and Wellness from $11.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. Wolfe Research started coverage on Petco Health and Wellness in a research note on Friday, September 29th. They issued a “peer perform” rating for the company. Royal Bank of Canada reduced their price objective on Petco Health and Wellness from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, August 25th. Bank of America cut their target price on Petco Health and Wellness from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 25th. Finally, Morgan Stanley cut their target price on Petco Health and Wellness from $9.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 25th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

Petco Health and Wellness Stock Performance

The company has a 50-day simple moving average of $3.71 and a two-hundred day simple moving average of $6.51. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.18 billion, a PE ratio of 30.69, a PEG ratio of 24.74 and a beta of 1.30.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Petco Health and Wellness had a return on equity of 3.17% and a net margin of 0.59%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Petco Health and Wellness Company, Inc. will post 0.06 earnings per share for the current year.

Institutional Trading of Petco Health and Wellness

Several hedge funds have recently made changes to their positions in WOOF. Mackenzie Financial Corp bought a new stake in shares of Petco Health and Wellness in the first quarter valued at $128,843,000. Millennium Management LLC raised its stake in shares of Petco Health and Wellness by 2,109.0% in the fourth quarter. Millennium Management LLC now owns 4,305,037 shares of the company’s stock valued at $40,812,000 after buying an additional 4,110,147 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Petco Health and Wellness by 598.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,142,382 shares of the company’s stock valued at $27,966,000 after buying an additional 2,692,542 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of Petco Health and Wellness during the 2nd quarter valued at $21,579,000. Finally, Norges Bank bought a new stake in shares of Petco Health and Wellness during the 4th quarter valued at $21,521,000. 48.54% of the stock is currently owned by institutional investors.

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.