Wells Fargo & Company Forecasts Strong Price Appreciation for Petco Health and Wellness (NASDAQ:WOOF) Stock

Petco Health and Wellness (NASDAQ:WOOF - Free Report) had its price target increased by Wells Fargo & Company from $3.00 to $5.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on WOOF. Citigroup upped their target price 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. Royal Bank of Canada upped their price target on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an "outperform" rating in a report on Wednesday, September 11th. The Goldman Sachs Group dropped their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. Finally, Wedbush upped their target price on shares of 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. 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 stock. Based on data from MarketBeat, Petco Health and Wellness has an average rating of "Hold" and a consensus price target of $4.16.

Petco Health and Wellness Trading Up 8.0 %

Shares of NASDAQ:WOOF traded up $0.39 during trading on Friday, reaching $5.29. 18,198,333 shares of the stock were exchanged, compared to its average volume of 3,259,581. The firm's 50-day moving average price is $4.61 and its 200 day moving average price is $3.84. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -13.23 and a beta of 1.89. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $6.29. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.24 and a current ratio of 0.84.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned ($0.01) earnings per share. Petco Health and Wellness's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 worth $20,994,000 after buying an additional 1,254,554 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Petco Health and Wellness by 12.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,290 shares of the company's stock valued at $104,000 after acquiring an additional 4,836 shares during the period. CWM LLC raised its stake in shares of Petco Health and Wellness by 931.0% during the second quarter. CWM LLC now owns 99,185 shares of the company's stock valued at $375,000 after purchasing an additional 89,565 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Petco Health and Wellness by 0.4% during the 2nd quarter. SG Americas Securities LLC now owns 1,070,559 shares of the company's stock worth $4,047,000 after buying an additional 4,052 shares in the last quarter. Finally, Wedmont Private Capital bought a new position in shares of Petco Health and Wellness in the second quarter valued at approximately $81,000.

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.