Petco Health and Wellness (NASDAQ:WOOF) Stock Price Up 14.3% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) rose 14.3% on Wednesday. The stock traded as high as $3.03 and last traded at $3.0750. 3,643,205 shares traded hands during trading, an increase of 59% from the average session volume of 2,295,265 shares. The stock had previously closed at $2.69.

Wall Street Analysts Forecast Growth

WOOF has been the topic of several recent research reports. Robert W. Baird upped their price target on Petco Health and Wellness from $3.00 to $3.25 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. BNP Paribas Exane lowered their price objective on Petco Health and Wellness from $2.34 to $2.11 and set an “underperform” rating for the company in a research report on Thursday, September 3rd. Zacks Research cut shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings raised shares of Petco Health and Wellness from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 22nd. Finally, UBS Group reduced their target price on shares of Petco Health and Wellness from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Petco Health and Wellness currently has a consensus rating of “Hold” and an average price target of $3.42.

Petco Health and Wellness Stock Up 15.4%

The stock’s 50 day simple moving average is $2.43 and its two-hundred day simple moving average is $2.67. The firm has a market cap of $1.01 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.49 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.39.

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

Institutional Trading of Petco Health and Wellness

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Petco Health and Wellness by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,111,061 shares of the company’s stock worth $28,107,000 after buying an additional 655,567 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Petco Health and Wellness during the 1st quarter valued at about $3,883,000. Renaissance Technologies LLC purchased a new stake in shares of Petco Health and Wellness during the 1st quarter valued at about $1,455,000. Bank of America Corp DE boosted its holdings in shares of Petco Health and Wellness by 6.7% during the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company’s stock valued at $749,000 after acquiring an additional 16,825 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Petco Health and Wellness in the second quarter worth approximately $723,000.

About Petco Health and Wellness

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.