Robert W. Baird Trims Petco Health and Wellness (NASDAQ:WOOF) Target Price to $2.50

Petco Health and Wellness (NASDAQ:WOOF) had its target price lowered by Robert W. Baird from $3.00 to $2.50 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on WOOF. Needham & Company LLC cut their price target on Petco Health and Wellness from $8.00 to $5.00 and set a buy rating for the company in a research note on Wednesday, November 29th. Evercore ISI cut their price target on Petco Health and Wellness from $4.00 to $3.00 and set an in-line rating for the company in a research note on Friday. Jefferies Financial Group initiated coverage on Petco Health and Wellness in a research note on Tuesday, December 19th. They issued a hold rating and a $3.11 price target for the company. Wells Fargo & Company lowered Petco Health and Wellness from an overweight rating to an equal weight rating in a research report on Wednesday, November 29th. Finally, Wedbush cut their price objective on Petco Health and Wellness from $4.50 to $3.50 and set an outperform rating for the company in a research report on Thursday, November 30th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $5.28.

Petco Health and Wellness Stock Performance

Shares of NASDAQ WOOF traded down $0.10 during midday trading on Thursday, hitting $2.01. 4,294,293 shares of the stock traded hands, compared to its average volume of 4,151,540. The firm has a 50-day moving average of $2.60 and a two-hundred day moving average of $3.29. The firm has a market capitalization of $615.62 million, a P/E ratio of -0.42 and a beta of 1.17. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.25 and a current ratio of 0.86. Petco Health and Wellness has a one year low of $1.97 and a one year high of $10.76.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings results on Wednesday, March 13th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Petco Health and Wellness had a negative return on equity of 2.20% and a negative net margin of 20.47%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $0.17 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Petco Health and Wellness will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new stake in shares of Petco Health and Wellness in the first quarter valued at approximately $25,000. Deutsche Bank AG boosted its holdings in shares of Petco Health and Wellness by 607.8% in the fourth quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock valued at $36,000 after purchasing an additional 3,288 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Petco Health and Wellness by 61.9% in the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock valued at $37,000 after purchasing an additional 1,554 shares during the period. Oracle Alpha Inc. purchased a new stake in shares of Petco Health and Wellness in the fourth quarter valued at approximately $39,000. Finally, Everhart Financial Group Inc. purchased a new stake in shares of Petco Health and Wellness in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 48.54% of the company’s stock.

Petco Health and Wellness Company Profile

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.