Petco Health and Wellness (NASDAQ:WOOF) Sets New 52-Week High - Time to Buy?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.94 and last traded at $5.80, with a volume of 381019 shares changing hands. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WOOF. The Goldman Sachs Group lowered their price target on shares of Petco Health and Wellness from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Citigroup increased their price objective on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the company an "equal weight" rating in a report on Wednesday, September 11th. Wedbush reiterated an "outperform" rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.45.

Petco Health and Wellness Trading Down 6.9 %

The company has a 50 day moving average of $3.65 and a 200 day moving average of $3.07. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.24 and a current ratio of 0.84. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -1.09 and a beta of 1.92.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly 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 business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the prior year, the business posted ($0.01) EPS. The company's revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in shares of Petco Health and Wellness by 0.4% in the second quarter. SG Americas Securities LLC now owns 1,070,559 shares of the company's stock valued at $4,047,000 after purchasing an additional 4,052 shares during the period. Norden Group LLC lifted its position in Petco Health and Wellness by 31.7% during the second quarter. Norden Group LLC now owns 17,860 shares of the company's stock worth $68,000 after buying an additional 4,301 shares during the period. HB Wealth Management LLC lifted its position in Petco Health and Wellness by 21.6% during the second quarter. HB Wealth Management LLC now owns 25,949 shares of the company's stock worth $98,000 after buying an additional 4,615 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Petco Health and Wellness by 12.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,290 shares of the company's stock worth $104,000 after buying an additional 4,836 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of Petco Health and Wellness in the 2nd quarter worth about $44,000.

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.