Citigroup Lowers Petco Health and Wellness (NASDAQ:WOOF) Price Target to $1.75

Petco Health and Wellness (NASDAQ:WOOF) had its price objective lowered by equities researchers at Citigroup from $2.85 to $1.75 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 8.70% from the company’s previous close.

Several other brokerages have also weighed in on WOOF. Bank of America reissued an “underperform” rating and issued a $1.50 price objective (down previously from $5.00) on shares of Petco Health and Wellness in a report on Tuesday, April 2nd. UBS Group lowered their price target on shares of Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Wells Fargo & Company cut their price objective on shares of Petco Health and Wellness from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, March 25th. Royal Bank of Canada dropped their target price on Petco Health and Wellness from $3.50 to $2.70 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, Robert W. Baird decreased their price objective on Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Petco Health and Wellness currently has an average rating of “Hold” and an average target price of $2.96.

Petco Health and Wellness Stock Up 1.3 %

Shares of NASDAQ WOOF traded up $0.02 during trading on Tuesday, hitting $1.61. The stock had a trading volume of 771,305 shares, compared to its average volume of 3,854,135. The firm has a fifty day moving average of $2.00 and a two-hundred day moving average of $2.71. The company has a market capitalization of $494.87 million, a PE ratio of -0.34 and a beta of 1.27. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.24. Petco Health and Wellness has a 12 month low of $1.41 and a 12 month high of $10.76.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Wednesday, March 13th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. Petco Health and Wellness had a negative net margin of 20.47% and a negative return on equity of 2.20%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Petco Health and Wellness will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in Petco Health and Wellness by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 382,413 shares of the company’s stock valued at $1,564,000 after acquiring an additional 5,695 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Petco Health and Wellness by 0.6% during the 3rd quarter. Mackenzie Financial Corp now owns 8,222,738 shares of the company’s stock valued at $30,917,000 after buying an additional 46,870 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Petco Health and Wellness by 117.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 22,318 shares of the company’s stock worth $91,000 after buying an additional 12,076 shares during the last quarter. Duality Advisers LP purchased a new stake in Petco Health and Wellness in the third quarter worth approximately $1,487,000. Finally, Versor Investments LP grew its position in Petco Health and Wellness by 108.9% during the third quarter. Versor Investments LP now owns 98,759 shares of the company’s stock valued at $404,000 after acquiring an additional 51,474 shares during the last quarter.

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.