Royal Bank of Canada Boosts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $6.00

Petco Health and Wellness (NASDAQ:WOOF) had its target price lifted by research analysts at Royal Bank of Canada from $5.00 to $6.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 2.21% from the company’s current price.

WOOF has been the subject of several other research reports. Wells Fargo & Company upped their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup increased their price target on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group dropped their price target on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Wedbush increased 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 note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Petco Health and Wellness presently has a consensus rating of “Hold” and an average price target of $3.94.

Petco Health and Wellness Price Performance

WOOF traded up $0.97 during trading hours on Friday, hitting $5.87. The company’s stock had a trading volume of 5,279,824 shares, compared to its average volume of 4,482,614. The business’s 50-day moving average price is $4.59 and its 200-day moving average price is $3.82. Petco Health and Wellness has a 12 month low of $1.41 and a 12 month high of $6.29. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -1.18 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.24 and a debt-to-equity ratio of 1.39.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts expect that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Petco Health and Wellness

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Petco Health and Wellness by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after acquiring an additional 2,953,667 shares during the last quarter. Millennium Management LLC grew its holdings in Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after purchasing an additional 1,876,233 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Petco Health and Wellness by 1,212.7% in the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after acquiring an additional 1,677,179 shares during the period. Vanguard Group Inc. boosted its position in shares of Petco Health and Wellness by 15.8% in the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock valued at $20,994,000 after acquiring an additional 1,254,554 shares during the period. Finally, Marshall Wace LLP lifted its stake in Petco Health and Wellness by 47.3% during the second quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock worth $12,857,000 after purchasing an additional 1,092,204 shares during the period.

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.