Petco Health and Wellness (NASDAQ:WOOF) Share Price Breaks Above Two Hundred Day Moving Average on Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price passed above its 200-day moving average during trading on Monday after Weiss Ratings upgraded the stock from a sell (d+) rating to a hold (c-) rating. The stock has a 200-day moving average of $2.67 and traded as high as $2.77. Petco Health and Wellness shares last traded at $2.74, with a volume of 4,726,853 shares changing hands.

A number of other research firms have also commented on WOOF. Wall Street Zen raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Zacks Research upgraded Petco Health and Wellness from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. UBS Group decreased their price target on shares of Petco Health and Wellness from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. BNP Paribas Exane cut their price target on Petco Health and Wellness from $2.34 to $2.11 and set an “underperform” rating for the company in a report on Thursday, September 3rd. Finally, Robert W. Baird upped their price objective on Petco Health and Wellness from $3.00 to $3.25 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.42.

Institutional Investors Weigh In On Petco Health and Wellness

A number of large investors have recently bought and sold shares of WOOF. Verus Capital Partners LLC acquired a new position in shares of Petco Health and Wellness in the 3rd quarter valued at approximately $31,000. Corecam Pte. Ltd. raised its position in shares of Petco Health and Wellness by 71.3% during the third quarter. Corecam Pte. Ltd. now owns 51,166 shares of the company’s stock worth $116,000 after purchasing an additional 21,297 shares during the period. Engineers Gate Manager LP grew its position in Petco Health and Wellness by 113.1% during the second quarter. Engineers Gate Manager LP now owns 90,072 shares of the company’s stock valued at $245,000 after buying an additional 47,806 shares during the period. Squarepoint Ops LLC purchased a new position in Petco Health and Wellness in the 2nd quarter worth approximately $723,000. Finally, Bank of America Corp DE increased its holdings in 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 purchasing an additional 16,825 shares during the period.

Petco Health and Wellness Trading Up 16.7%

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.90. The company has a market cap of $1.02 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.44 and a beta of 1.51. The stock has a 50-day moving average of $2.44 and a two-hundred day moving average of $2.67.

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, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. Petco Health and Wellness had a net margin of 0.51% and a return on equity of 3.44%. During the same period in the prior year, the firm posted $0.05 EPS. On average, equities research analysts predict that Petco Health and Wellness Company, Inc. will post 0.10 earnings per share for the current year.

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.