Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.05, but opened at $2.72. Petco Health and Wellness shares last traded at $2.5750, with a volume of 2,235,802 shares trading hands.

Analyst Upgrades and Downgrades

WOOF has been the subject of a number of research reports. The Goldman Sachs Group cut Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 price objective for the company. in a research note on Monday, April 13th. Wall Street Zen raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Jefferies Financial Group raised Petco Health and Wellness from a “hold” rating to a “buy” rating and increased their price objective for the stock from $4.05 to $5.00 in a report on Thursday, March 12th. Citigroup increased their price objective on Petco Health and Wellness from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Monday, March 16th. Finally, UBS Group increased their price objective on Petco Health and Wellness from $3.50 to $4.00 and gave the stock a “neutral” rating in a report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.04.

Petco Health and Wellness Price Performance

The firm has a 50-day moving average price of $2.79 and a 200 day moving average price of $2.83. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.38 and a current ratio of 0.90. The stock has a market capitalization of $897.19 million, a P/E ratio of 92.50, a price-to-earnings-growth ratio of 3.84 and a beta of 1.53.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. Petco Health and Wellness had a return on equity of 0.89% and a net margin of 0.15%.Petco Health and Wellness’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, analysts expect that Petco Health and Wellness Company, Inc. will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its position in shares of Petco Health and Wellness by 425.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,523 shares of the company’s stock worth $30,000 after buying an additional 8,519 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Petco Health and Wellness in the 4th quarter worth approximately $31,000. Cibc World Market Inc. bought a new stake in shares of Petco Health and Wellness in the 4th quarter worth approximately $32,000. HB Wealth Management LLC bought a new stake in shares of Petco Health and Wellness in the 1st quarter worth approximately $34,000. Finally, Quantbot Technologies LP bought a new stake in shares of Petco Health and Wellness in the 3rd quarter worth approximately $34,000.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.