Petco Health and Wellness (NASDAQ:WOOF) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Petco Health and Wellness (NASDAQ:WOOF) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Petco Health and Wellness from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. BNP Paribas Exane reduced their target price on shares of Petco Health and Wellness from $2.34 to $2.11 and set an “underperform” rating for the company in a research note on Thursday, September 3rd. Citigroup decreased their target price on shares of Petco Health and Wellness from $4.00 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d)” rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. Finally, UBS Group dropped their price target on shares of Petco Health and Wellness from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $3.42.

Petco Health and Wellness Price Performance

Shares of WOOF opened at $2.70 on Friday. The company has a market cap of $873.07 million, a P/E ratio of 27.00, a PEG ratio of 2.45 and a beta of 1.53. The stock has a fifty day moving average price of $2.71 and a 200 day moving average price of $2.74. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.39. Petco Health and Wellness has a 12 month low of $2.24 and a 12 month high of $3.96.

Petco Health and Wellness (NASDAQ:WOOF) last issued its earnings results on Wednesday, September 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. Petco Health and Wellness had a return on equity of 3.44% and a net margin of 0.51%.During the same period last year, the company earned $0.05 earnings per share. On average, research analysts forecast that Petco Health and Wellness will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Holly May sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $2.54, for a total value of $508,000.00. Following the sale, the insider directly owned 1,327,867 shares in the company, valued at $3,372,782.18. The trade was a 13.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 450,000 shares of company stock valued at $1,145,500 in the last quarter. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WOOF. Sei Investments Co. lifted its stake in shares of Petco Health and Wellness by 12.8% in the second quarter. Sei Investments Co. now owns 26,055 shares of the company’s stock valued at $74,000 after buying an additional 2,951 shares during the period. Rockefeller Capital Management L.P. increased its stake in Petco Health and Wellness by 14.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,500 shares of the company’s stock valued at $66,000 after acquiring an additional 2,988 shares during the period. Bank of Nova Scotia increased its stake in Petco Health and Wellness by 27.8% during the second quarter. Bank of Nova Scotia now owns 15,208 shares of the company’s stock valued at $43,000 after acquiring an additional 3,308 shares during the period. Creative Planning raised its holdings in Petco Health and Wellness by 11.0% in the 3rd quarter. Creative Planning now owns 40,826 shares of the company’s stock valued at $158,000 after acquiring an additional 4,047 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Petco Health and Wellness by 17.6% in the 2nd quarter. Cetera Investment Advisers now owns 28,419 shares of the company’s stock valued at $80,000 after acquiring an additional 4,258 shares in the last quarter.

About Petco Health and Wellness

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.