Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Down – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $3.05, but opened at $2.72. Petco Health and Wellness shares last traded at $2.5750, with a volume of 2,235,802 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group upped their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research report on Monday, March 16th. Wall Street Zen raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. The Goldman Sachs Group lowered shares of Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 target price on the stock. in a report on Monday, April 13th. Citigroup raised their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Monday, March 16th. Finally, Zacks Research lowered shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and a consensus target price of $4.04.

Petco Health and Wellness Trading Down 8.7%

The company has a current ratio of 0.90, a quick ratio of 0.38 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $897.19 million, a P/E ratio of 92.50, a P/E/G ratio of 3.84 and a beta of 1.53. The firm has a 50-day moving average of $2.79 and a two-hundred day moving average of $2.83.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Wednesday, March 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a return on equity of 0.89% and a net margin of 0.15%.The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that Petco Health and Wellness Company, Inc. will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Petco Health and Wellness by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,111,061 shares of the company’s stock worth $28,107,000 after purchasing an additional 655,567 shares during the period. Vanguard Group Inc. lifted its position in shares of Petco Health and Wellness by 8.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,416,496 shares of the company’s stock valued at $32,572,000 after acquiring an additional 621,026 shares during the period. Holocene Advisors LP lifted its position in shares of Petco Health and Wellness by 42.0% during the 3rd quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after acquiring an additional 1,800,583 shares during the period. Nuveen LLC lifted its position in shares of Petco Health and Wellness by 81.9% during the 4th quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock valued at $11,236,000 after acquiring an additional 1,800,860 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Petco Health and Wellness by 60.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock valued at $11,095,000 after acquiring an additional 1,367,299 shares during the period.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.