Petco Health and Wellness (NASDAQ:WOOF) Trading Down 5.3% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares traded down 5.3% during mid-day trading on Monday . The company traded as low as $4.21 and last traded at $4.25. 313,089 shares were traded during mid-day trading, a decline of 93% from the average session volume of 4,562,323 shares. The stock had previously closed at $4.49.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WOOF. The Goldman Sachs Group reduced their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Royal Bank of Canada upped their price objective on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Wedbush lifted their target price on Petco Health and Wellness from $5.00 to $5.50 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Citigroup raised their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Petco Health and Wellness presently has an average rating of “Hold” and a consensus target price of $3.49.

Petco Health and Wellness Price Performance

The company’s 50 day simple moving average is $4.32 and its two-hundred day simple moving average is $3.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24. The stock has a market capitalization of $1.32 billion, a P/E ratio of -0.86 and a beta of 1.92.

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

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Petco Health and Wellness in the third quarter valued at about $728,000. Rice Hall James & Associates LLC bought a new position in shares of Petco Health and Wellness in the 3rd quarter valued at about $2,120,000. International Assets Investment Management LLC grew its position in shares of Petco Health and Wellness by 311.1% during the 3rd quarter. International Assets Investment Management LLC now owns 170,398 shares of the company’s stock worth $775,000 after buying an additional 128,948 shares during the period. SG Americas Securities LLC raised its stake in shares of Petco Health and Wellness by 2.7% during the third quarter. SG Americas Securities LLC now owns 1,099,254 shares of the company’s stock worth $5,002,000 after buying an additional 28,695 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new position in Petco Health and Wellness in the second quarter valued at 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.