Petco Health and Wellness (NASDAQ:WOOF) Hits New 52-Week Low After Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Wedbush lowered their price target on the stock from $25.00 to $18.00. Wedbush currently has an outperform rating on the stock. Petco Health and Wellness traded as low as $13.71 and last traded at $13.73, with a volume of 47220 shares changing hands. The stock had previously closed at $14.34.

WOOF has been the subject of a number of other research reports. UBS Group cut their target price on shares of Petco Health and Wellness to $17.00 in a research note on Wednesday, May 25th. Robert W. Baird cut their target price on shares of Petco Health and Wellness from $25.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 24th. The Goldman Sachs Group dropped their price objective on shares of Petco Health and Wellness from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Morgan Stanley began coverage on shares of Petco Health and Wellness in a research report on Monday, May 16th. They issued an “equal weight” rating and a $21.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Petco Health and Wellness from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.20.

Insider Transactions at Petco Health and Wellness

In other news, insider Justin Tichy sold 6,500 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $15.74, for a total transaction of $102,310.00. Following the sale, the insider now owns 78,142 shares of the company’s stock, valued at $1,229,955.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Petco Health and Wellness

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nicholas Company Inc. raised its position in Petco Health and Wellness by 6.6% in the 2nd quarter. Nicholas Company Inc. now owns 500,315 shares of the company’s stock valued at $7,375,000 after buying an additional 31,050 shares during the last quarter. Strs Ohio acquired a new stake in Petco Health and Wellness in the 2nd quarter valued at approximately $884,000. Granite Investment Partners LLC raised its position in Petco Health and Wellness by 6.2% in the 2nd quarter. Granite Investment Partners LLC now owns 251,413 shares of the company’s stock valued at $3,706,000 after buying an additional 14,664 shares during the last quarter. Belvedere Trading LLC increased its position in shares of Petco Health and Wellness by 191.5% during the 2nd quarter. Belvedere Trading LLC now owns 12,242 shares of the company’s stock worth $178,000 after purchasing an additional 8,042 shares during the last quarter. Finally, River Road Asset Management LLC acquired a new position in shares of Petco Health and Wellness during the 2nd quarter worth approximately $4,075,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Petco Health and Wellness Price Performance

The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.97. The company has a 50-day simple moving average of $15.53 and a two-hundred day simple moving average of $17.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.36 and a current ratio of 1.04.

Petco Health and Wellness (NASDAQ:WOOF – Get Rating) last posted its quarterly earnings results on Tuesday, May 24th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. Petco Health and Wellness had a return on equity of 8.93% and a net margin of 3.09%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, equities research analysts forecast that Petco Health and Wellness Company, Inc. will post 0.86 EPS for the current year.

Petco Health and Wellness Company Profile

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Petco Health and Wellness Company, Inc, a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners. 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.