Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down – Here’s What Happened

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) gapped down before the market opened on Tuesday . The stock had previously closed at $4.23, but opened at $4.08. Petco Health and Wellness shares last traded at $4.02, with a volume of 264,961 shares.

Analyst Upgrades and Downgrades

WOOF has been the subject of several research analyst reports. Citigroup lifted their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada boosted their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lowered their target price on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Wedbush boosted their target price on Petco Health and Wellness from $5.00 to $5.50 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and an average target price of $3.49.

Petco Health and Wellness Stock Performance

The company has a market cap of $1.25 billion, a PE ratio of -0.80 and a beta of 1.92. The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $4.59 and a 200-day moving average of $3.70.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. lifted its position in Petco Health and Wellness by 253.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after acquiring an additional 8,056 shares in the last quarter. Caprock Group LLC bought a new position in shares of Petco Health and Wellness during the 2nd quarter valued at $44,000. Choreo LLC bought a new position in shares of Petco Health and Wellness during the 2nd quarter valued at $45,000. Quadrature Capital Ltd bought a new position in shares of Petco Health and Wellness during the 3rd quarter valued at $58,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Petco Health and Wellness during the 2nd quarter valued at $50,000.

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.