Petco Health and Wellness (NASDAQ:WOOF) Downgraded by Zacks Research to Hold

Petco Health and Wellness (NASDAQ:WOOF) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities analysts also recently weighed in on WOOF. Wall Street Zen raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Weiss Ratings raised shares of Petco Health and Wellness from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 22nd. BNP Paribas Exane lowered their price target on shares of Petco Health and Wellness from $2.34 to $2.11 and set an “underperform” rating on the stock in a research report on Thursday, September 3rd. UBS Group reduced their target price on 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. Finally, Robert W. Baird boosted their price target on Petco Health and Wellness from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Petco Health and Wellness has an average rating of “Hold” and an average price target of $3.42.

Petco Health and Wellness Stock Down 1.8%

WOOF opened at $2.69 on Monday. 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 $2.14 and a 12 month high of $3.78. The stock has a market capitalization of $872.12 million, a P/E ratio of 26.90, a P/E/G ratio of 2.49 and a beta of 1.51. The business has a 50 day simple moving average of $2.43 and a 200-day simple moving average of $2.67.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. Petco Health and Wellness had a return on equity of 3.44% and a net margin of 0.51%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $0.05 earnings per share. On average, equities analysts anticipate that Petco Health and Wellness will post 0.10 earnings per share for the current fiscal year.

Institutional Trading of Petco Health and Wellness

Several institutional investors have recently made changes to their positions in WOOF. Verus Capital Partners LLC acquired a new stake in Petco Health and Wellness during the third quarter worth about $31,000. Corecam Pte. Ltd. raised its holdings in Petco Health and Wellness by 71.3% in the third quarter. Corecam Pte. Ltd. now owns 51,166 shares of the company’s stock valued at $116,000 after buying an additional 21,297 shares during the period. Engineers Gate Manager LP lifted its position in Petco Health and Wellness by 113.1% during the second quarter. Engineers Gate Manager LP now owns 90,072 shares of the company’s stock valued at $245,000 after buying an additional 47,806 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Petco Health and Wellness during the second quarter valued at approximately $723,000. Finally, Bank of America Corp DE lifted its position in Petco Health and Wellness by 6.7% during the first quarter. Bank of America Corp DE now owns 269,589 shares of the company’s stock valued at $749,000 after buying an additional 16,825 shares in the last quarter.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc is a U.S.-based pet health and wellness retailer operating under the Petco brand. The company serves pet owners through a combination of brick-and-mortar stores, digital commerce channels and service locations, offering products and services for dogs, cats, fish, birds, reptiles and other companion animals.

Petco’s merchandise includes pet food, treats, toys, bedding, habitats, grooming supplies and other everyday care products. Its services include veterinary care, grooming, training, adoption support and other wellness offerings.