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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.23, but opened at $4.08. Petco Health and Wellness shares last traded at $4.02, with a volume of 264,961 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on WOOF. Wedbush boosted their price target on shares of Petco Health and Wellness from $5.00 to $5.50 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Citigroup raised their price target 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 reduced 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 research report on Thursday, September 12th. Finally, Royal Bank of Canada increased their price objective on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.49.

Petco Health and Wellness Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $4.58 and a 200 day moving average of $3.72.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, equities analysts expect that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Trading of Petco Health and Wellness

Several hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in Petco Health and Wellness by 1,212.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after purchasing an additional 1,677,179 shares during the period. Vanguard Group Inc. increased its stake in shares of Petco Health and Wellness by 15.8% during the first 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 period. Susquehanna Fundamental Investments LLC raised its holdings in Petco Health and Wellness by 50.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 833,153 shares of the company’s stock valued at $3,149,000 after acquiring an additional 280,644 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Petco Health and Wellness in the first quarter valued at approximately $588,000. Finally, Wedmont Private Capital purchased a new position in Petco Health and Wellness in the second quarter worth approximately $81,000.

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.