Petco Health and Wellness (NASDAQ:WOOF) Hits New 1-Year High on Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $3.00 to $6.00. Morgan Stanley currently has an equal weight rating on the stock. Petco Health and Wellness traded as high as $6.04 and last traded at $6.04, with a volume of 1045777 shares trading hands. The stock had previously closed at $4.90.

Other research analysts have also recently issued research reports about the stock. Citigroup raised their target price 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 cut their price target on shares of Petco Health and Wellness from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, September 12th. Wedbush upped their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an "outperform" rating in a research note on Friday. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Royal Bank of Canada boosted their price target on Petco Health and Wellness from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Petco Health and Wellness has a consensus rating of "Hold" and an average price target of $4.16.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors have recently modified their holdings of the stock. Caprock Group LLC purchased a new stake in Petco Health and Wellness during the 2nd quarter valued at about $44,000. Choreo LLC bought a new position in shares of Petco Health and Wellness in the second quarter worth approximately $45,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Petco Health and Wellness during the second quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Petco Health and Wellness by 253.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company's stock valued at $51,000 after acquiring an additional 8,056 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Petco Health and Wellness in the 2nd quarter worth approximately $52,000.

Petco Health and Wellness Price Performance

The firm has a 50-day moving average of $4.61 and a 200-day moving average of $3.84. 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 firm has a market capitalization of $1.65 billion, a P/E ratio of -13.23 and a beta of 1.89.

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). Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. As a group, analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current year.

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.