Petco Health and Wellness (NASDAQ:WOOF) Raised to "Buy" at Zacks Investment Research – MarketBeat

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Petco Health and Wellness (NASDAQ:WOOF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, reports. The firm presently has a $21.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.64% from the company’s current price.
According to Zacks, “Petco Health and Wellness is a fully-integrated health and wellness company for pets. They offer premium products, services and veterinary care. “
A number of other equities analysts have also recently issued reports on the stock. Citigroup reduced their price objective on shares of Petco Health and Wellness from $29.00 to $25.00 in a research note on Tuesday, January 18th. Wedbush raised shares of Petco Health and Wellness from a “neutral” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Monday, December 6th. Needham & Company LLC initiated coverage on shares of Petco Health and Wellness in a research report on Thursday, December 16th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Jefferies Financial Group cut shares of Petco Health and Wellness from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research report on Monday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $25.87.
NASDAQ:WOOF opened at $18.48 on Thursday. Petco Health and Wellness has a 12-month low of $17.00 and a 12-month high of $28.73. The company has a quick ratio of 0.33, a current ratio of 0.96 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.19 billion and a PE ratio of 38.50. The firm has a 50-day moving average price of $19.06 and a 200 day moving average price of $20.96.
Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings results on Wednesday, November 17th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Petco Health and Wellness had a net margin of 2.30% and a return on equity of 8.27%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.37 billion. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts expect that Petco Health and Wellness will post 0.75 EPS for the current year.
In other news, CFO Brian Larose acquired 5,125 shares of the stock in a transaction dated Monday, December 6th. The shares were bought at an average cost of $19.45 per share, for a total transaction of $99,681.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.02% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in WOOF. BlackRock Inc. increased its stake in shares of Petco Health and Wellness by 11.5% during the 2nd quarter. BlackRock Inc. now owns 3,047,544 shares of the company’s stock worth $68,296,000 after purchasing an additional 313,463 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Petco Health and Wellness by 132.6% during the 2nd quarter. Deutsche Bank AG now owns 5,984 shares of the company’s stock worth $134,000 after buying an additional 3,411 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Petco Health and Wellness by 87.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 230,117 shares of the company’s stock worth $5,158,000 after buying an additional 107,679 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Petco Health and Wellness during the 2nd quarter worth about $884,000. Finally, Shell Asset Management Co. bought a new stake in shares of Petco Health and Wellness during the 2nd quarter worth about $53,000. Institutional investors own 61.38% of the company’s stock.
Petco Health and Wellness Company Profile
Petco Health and Wellness Company, Inc operates as a retailer of premium pet consumables, supplies, and companion animals and services. The company also offers grooming, in-store and online training, tele-veterinarian, and pet health insurance services, as well as veterinary services through Vetco clinics.
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