Citigroup Forecasts Strong Price Appreciation for Petco Health and Wellness (NASDAQ:WOOF) Stock

by · The Markets Daily

Petco Health and Wellness (NASDAQ:WOOF – Get Free Report) had its price target hoisted by analysts at Citigroup from $3.50 to $4.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 16.11% from the stock’s previous close.

Several other research firms have also issued reports on WOOF. Jefferies Financial Group raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.05 to $5.00 in a report on Thursday. Evercore lowered their price objective on Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Petco Health and Wellness in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.07.

Read Our Latest Stock Report on Petco Health and Wellness

Petco Health and Wellness Stock Down 4.8%

Shares of WOOF stock traded down $0.18 during mid-day trading on Monday, hitting $3.45. 2,541,440 shares of the stock traded hands, compared to its average volume of 2,585,927. Petco Health and Wellness has a 52-week low of $2.24 and a 52-week high of $4.51. The stock has a market cap of $1.10 billion, a P/E ratio of 115.50 and a beta of 1.75. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.38. The stock’s fifty day moving average is $2.72 and its two-hundred day moving average is $3.10.

Petco Health and Wellness (NASDAQ:WOOF – Get Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Petco Health and Wellness had a return on equity of 0.89% and a net margin of 0.15%.The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Equities analysts predict that Petco Health and Wellness will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nuveen LLC raised its holdings in shares of Petco Health and Wellness by 81.9% in the fourth quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock worth $11,236,000 after buying an additional 1,800,860 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Petco Health and Wellness by 42.0% during the third quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after buying an additional 1,800,583 shares during the last quarter. Candlestick Capital Management LP acquired a new position in shares of Petco Health and Wellness in the 3rd quarter valued at $6,772,000. Goldman Sachs Group Inc. increased its position in shares of Petco Health and Wellness by 60.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock valued at $11,095,000 after acquiring an additional 1,367,299 shares during the period. Finally, Norges Bank purchased a new position in Petco Health and Wellness in the 2nd quarter worth $3,770,000.

Petco Health and Wellness Company Profile

(Get Free Report)

Petco Health and Wellness Company, Inc (NASDAQ: WOOF) is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.

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