Morgan Stanley Issues Positive Forecast for Petco Health and Wellness (NASDAQ:WOOF) Stock Price

Petco Health and Wellness (NASDAQ:WOOF - Free Report) had its price target increased by Morgan Stanley from $3.00 to $6.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

WOOF has been the subject of several other reports. Royal Bank of Canada increased their price target on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup lifted their price target on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, September 12th. The Goldman Sachs Group lowered their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company upped their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Wedbush boosted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.16.

Petco Health and Wellness Stock Up 8.0 %

Shares of WOOF stock traded up $0.39 during mid-day trading on Friday, hitting $5.29. The stock had a trading volume of 18,198,333 shares, compared to its average volume of 3,259,581. The firm has a market capitalization of $1.65 billion, a P/E ratio of -13.23 and a beta of 1.89. The firm's 50-day moving average is $4.61 and its two-hundred day moving average is $3.84. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.02). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The business's revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted ($0.01) EPS. On average, analysts predict that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WOOF. AQR Capital Management LLC boosted its position in Petco Health and Wellness by 82.1% during the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company's stock worth $22,661,000 after acquiring an additional 2,953,667 shares during the last quarter. Millennium Management LLC lifted its position in Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company's stock worth $10,127,000 after buying an additional 1,876,233 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Petco Health and Wellness by 1,212.7% during the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company's stock worth $6,863,000 after buying an additional 1,677,179 shares during the last quarter. Vanguard Group Inc. grew its holdings in Petco Health and Wellness by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company's stock valued at $20,994,000 after buying an additional 1,254,554 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Petco Health and Wellness by 47.3% during the 2nd quarter. Marshall Wace LLP now owns 3,401,248 shares of the company's stock valued at $12,857,000 after acquiring an additional 1,092,204 shares during the last quarter.

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.