Petco Health and Wellness (NASDAQ:WOOF) Price Target Cut to $3.00 by Analysts at Evercore ISI

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by Evercore ISI from $4.00 to $3.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an in-line rating on the stock.

WOOF has been the subject of several other research reports. Zacks Research cut shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Petco Health and Wellness in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.86.

Petco Health and Wellness Stock Down 4.4%

Shares of NASDAQ WOOF opened at $2.60 on Tuesday. The company has a market capitalization of $829.50 million, a price-to-earnings ratio of -259.74 and a beta of 1.72. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.91 and a quick ratio of 0.35. The business has a 50-day moving average of $2.98 and a two-hundred day moving average of $3.26. Petco Health and Wellness has a 1 year low of $2.28 and a 1 year high of $4.51.

Petco Health and Wellness (NASDAQ:WOOF) last issued its earnings results on Tuesday, November 25th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Petco Health and Wellness had a positive return on equity of 0.46% and a negative net margin of 0.04%.The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. On average, analysts forecast that Petco Health and Wellness will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Petco Health and Wellness news, CRO Patrick J. Venezia sold 74,192 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $3.08, for a total transaction of $228,511.36. Following the transaction, the executive directly owned 474,848 shares of the company’s stock, valued at approximately $1,462,531.84. This trade represents a 13.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in Petco Health and Wellness during the 3rd quarter valued at approximately $26,000. Brookwood Investment Group LLC acquired a new position in shares of Petco Health and Wellness in the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Petco Health and Wellness by 747.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 11,090 shares of the company’s stock worth $31,000 after purchasing an additional 9,782 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Petco Health and Wellness during the second quarter worth approximately $31,000. Finally, HB Wealth Management LLC acquired a new stake in shares of Petco Health and Wellness during the second quarter worth $33,000.

About Petco Health and Wellness

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.