Petco Health and Wellness (NASDAQ:WOOF) Stock Jumps 8.4% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price traded up 8.4% on Thursday. The company traded as high as $2.51 and last traded at $2.5050. 3,052,975 shares traded hands during trading, an increase of 36% from the average daily volume of 2,243,645 shares. The stock had previously closed at $2.31.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Robert W. Baird boosted their target price on Petco Health and Wellness from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Zacks Research upgraded Petco Health and Wellness from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. UBS Group reduced their price objective on Petco Health and Wellness from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Finally, BNP Paribas Exane reduced their price target on shares of Petco Health and Wellness from $2.34 to $2.11 and set an “underperform” rating for the company in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and an average target price of $3.42.

Petco Health and Wellness Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $2.65. The company has a market capitalization of $820.25 million, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.11 and a beta of 1.59.

Petco Health and Wellness (NASDAQ:WOOF) last released its earnings results on Wednesday, September 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. Petco Health and Wellness had a net margin of 0.51% and a return on equity of 3.44%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $0.05 EPS. As a group, research analysts anticipate that Petco Health and Wellness Company, Inc. will post 0.10 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WOOF. Rockefeller Capital Management L.P. increased its holdings in shares of Petco Health and Wellness by 14.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,500 shares of the company’s stock valued at $66,000 after purchasing an additional 2,988 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Petco Health and Wellness by 63.9% in the first quarter. International Assets Investment Management LLC now owns 12,825 shares of the company’s stock valued at $35,000 after acquiring an additional 5,000 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Petco Health and Wellness in the first quarter valued at about $34,000. R Squared Ltd purchased a new position in Petco Health and Wellness in the 1st quarter worth approximately $36,000. Finally, Bank of America Corp DE increased its stake in shares of Petco Health and Wellness by 6.7% in the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company’s stock worth $749,000 after acquiring an additional 16,825 shares during the last quarter.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc is a U.S.-based pet health and wellness retailer operating under the Petco brand. The company serves pet owners through a combination of brick-and-mortar stores, digital commerce channels and service locations, offering products and services for dogs, cats, fish, birds, reptiles and other companion animals.

Petco’s merchandise includes pet food, treats, toys, bedding, habitats, grooming supplies and other everyday care products. Its services include veterinary care, grooming, training, adoption support and other wellness offerings.