Petco Health and Wellness (NASDAQ:WOOF) Trading 7.6% Higher Following Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares shot up 7.6% on Friday after Wedbush raised their price target on the stock from $5.00 to $5.50. Wedbush currently has an outperform rating on the stock. Petco Health and Wellness traded as high as $4.97 and last traded at $4.93. 1,322,938 shares changed hands during trading, a decline of 72% from the average session volume of 4,681,213 shares. The stock had previously closed at $4.58.

WOOF has been the subject of a number of other reports. Wells Fargo & Company raised their price objective on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 11th. The Goldman Sachs Group cut their price target on 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 lifted their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada boosted their target price on shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Petco Health and Wellness has an average rating of "Hold" and a consensus target price of $3.49.

Institutional Trading of Petco Health and Wellness

Several institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in Petco Health and Wellness during the first quarter valued at about $30,000. Norden Group LLC acquired a new stake in Petco Health and Wellness during the 1st quarter worth approximately $31,000. Caprock Group LLC acquired a new stake in Petco Health and Wellness during the 2nd quarter worth approximately $44,000. Choreo LLC purchased a new position in Petco Health and Wellness in the second quarter valued at approximately $45,000. Finally, Delap Wealth Advisory LLC purchased a new stake in Petco Health and Wellness during the first quarter worth approximately $49,000.

Petco Health and Wellness Stock Up 7.6 %

The firm's 50-day moving average price is $3.95 and its 200-day moving average price is $3.20. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -0.99 and a beta of 1.92.

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 the consensus estimate of ($0.02). The firm had revenue of $1.52 billion during 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 firm's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. Sell-side analysts forecast that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current fiscal year.

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.