Morgan Stanley Raises Petco Health and Wellness (NASDAQ:WOOF) Price Target to $6.00

Petco Health and Wellness (NASDAQ:WOOF) had its price target raised by equities research analysts at Morgan Stanley from $3.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 3.81% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company upped their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada lifted their target price on shares of Petco Health and Wellness from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup upped their target price on Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Wedbush lifted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Up 18.0 %

Shares of NASDAQ:WOOF traded up $0.88 during trading on Friday, reaching $5.78. 12,163,187 shares of the stock were exchanged, compared to its average volume of 4,512,207. The stock has a fifty day moving average of $4.59 and a two-hundred day moving average of $3.82. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.84 and a quick ratio of 0.24. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -1.16 and a beta of 1.89.

Petco Health and Wellness (NASDAQ:WOOF) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). Petco Health and Wellness had a negative net margin of 21.46% and a negative return on equity of 6.51%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Petco Health and Wellness will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOOF. AQR Capital Management LLC raised its position in shares of Petco Health and Wellness by 82.1% in the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after purchasing an additional 2,953,667 shares during the period. Millennium Management LLC grew its position 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 buying an additional 1,876,233 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Petco Health and Wellness by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after buying an additional 1,254,554 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Petco Health and Wellness by 47.3% during the second quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock valued at $12,857,000 after purchasing an additional 1,092,204 shares in the last quarter.

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.