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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.23, but opened at $4.08. Petco Health and Wellness shares last traded at $4.02, with a volume of 264,961 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WOOF shares. Wells Fargo & Company upped their target price on Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Royal Bank of Canada increased their price objective on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group lowered their price objective on Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Citigroup increased their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Wedbush increased their price objective on Petco Health and Wellness from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.49.

Petco Health and Wellness Stock Performance

The company has a market capitalization of $1.25 billion, a PE ratio of -0.80 and a beta of 1.92. The company has a quick ratio of 0.24, a current ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $4.59 and a two-hundred day moving average price of $3.70.

Petco Health and Wellness (NASDAQ:WOOF) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Analysts predict that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Petco Health and Wellness

Several large investors have recently added to or reduced their stakes in WOOF. AQR Capital Management LLC boosted its stake in Petco Health and Wellness by 82.1% during the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after buying an additional 2,953,667 shares during the period. Millennium Management LLC lifted its stake in Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after purchasing an additional 1,876,233 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Petco Health and Wellness during the first quarter worth about $4,091,000. Point72 Asset Management L.P. lifted its stake in Petco Health and Wellness by 1,212.7% during the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after purchasing an additional 1,677,179 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Petco Health and Wellness by 15.8% during the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after purchasing an additional 1,254,554 shares during the last quarter.

About Petco Health and Wellness

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.