Petco Health and Wellness (NASDAQ:WOOF) Given New $3.00 Price Target at Evercore ISI

Petco Health and Wellness (NASDAQ:WOOF) had its price objective cut by Evercore ISI from $4.00 to $3.00 in a research note published on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

A number of other brokerages have also issued reports on WOOF. Wedbush cut their target price on Petco Health and Wellness from $4.50 to $3.50 and set an outperform rating on the stock in a research report on Thursday, November 30th. Royal Bank of Canada cut their target price on Petco Health and Wellness from $3.50 to $2.70 and set an outperform rating on the stock in a research report on Friday. Robert W. Baird lowered Petco Health and Wellness from an outperform rating to a neutral rating and dropped their price target for the company from $8.00 to $3.00 in a research report on Thursday, November 30th. Jefferies Financial Group began coverage on Petco Health and Wellness in a research report on Tuesday, December 19th. They set a hold rating and a $3.11 price target on the stock. Finally, The Goldman Sachs Group dropped their target price on Petco Health and Wellness from $7.00 to $5.00 and set a buy rating on the stock in a research report on Thursday, November 30th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $5.28.

Petco Health and Wellness Stock Performance

WOOF stock traded down $0.10 during trading on Friday, reaching $2.01. 4,294,293 shares of the company’s stock were exchanged, compared to its average volume of 4,151,540. 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 has a 1-year low of $1.97 and a 1-year high of $10.76. The company’s fifty day moving average price is $2.60 and its 200-day moving average price is $3.29. The firm has a market cap of $615.62 million, a PE ratio of -0.42 and a beta of 1.17.

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

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Petco Health and Wellness by 73.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,225,206 shares of the company’s stock valued at $21,084,000 after buying an additional 2,210,988 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Petco Health and Wellness during the third quarter worth $1,574,000. FMR LLC grew its stake in shares of Petco Health and Wellness by 216.2% during the third quarter. FMR LLC now owns 604,446 shares of the company’s stock worth $2,472,000 after purchasing an additional 413,295 shares during the period. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Petco Health and Wellness during the second quarter worth $21,579,000. Finally, Graham Capital Management L.P. acquired a new stake in shares of Petco Health and Wellness during the third quarter worth $436,000. 48.54% of the stock is owned by institutional investors and hedge funds.

Petco Health and Wellness Company Profile

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.