Petco Health and Wellness (NASDAQ:WOOF) Reaches New 1-Year Low at $7.29

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF – Get Rating)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $7.29 and last traded at $7.98, with a volume of 5958704 shares changing hands. The stock had previously closed at $10.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Petco Health and Wellness from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, March 15th. Morgan Stanley lowered their price objective on shares of Petco Health and Wellness from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, March 23rd. Royal Bank of Canada lowered their price objective on shares of Petco Health and Wellness from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, March 23rd. Bank of America lowered their price objective on shares of Petco Health and Wellness from $18.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday, March 29th. Finally, Needham & Company LLC lowered their price objective on shares of Petco Health and Wellness from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, April 14th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Petco Health and Wellness has a consensus rating of “Moderate Buy” and a consensus target price of $11.75.

Petco Health and Wellness Price Performance

The stock’s 50-day moving average is $9.46 and its 200 day moving average is $10.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.36. The company has a market cap of $1.85 billion, a PE ratio of 35.04, a PEG ratio of 9.64 and a beta of 1.02.

Petco Health and Wellness (NASDAQ:WOOF – Get Rating) last posted its earnings results on Wednesday, March 22nd. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Petco Health and Wellness had a net margin of 1.05% and a return on equity of 4.85%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities analysts anticipate that Petco Health and Wellness Company, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Petco Health and Wellness

In related news, CEO Ron Coughlin purchased 61,040 shares of the business’s stock in a transaction on Tuesday, March 28th. The shares were acquired at an average price of $8.27 per share, for a total transaction of $504,800.80. Following the purchase, the chief executive officer now owns 618,317 shares of the company’s stock, valued at approximately $5,113,481.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC acquired a new stake in shares of Petco Health and Wellness during the first quarter worth $25,000. Quent Capital LLC lifted its stake in shares of Petco Health and Wellness by 546.1% during the fourth quarter. Quent Capital LLC now owns 3,153 shares of the company’s stock worth $30,000 after buying an additional 2,665 shares during the period. Deutsche Bank AG lifted its stake in shares of Petco Health and Wellness by 607.8% during the fourth quarter. Deutsche Bank AG now owns 3,829 shares of the company’s stock worth $36,000 after buying an additional 3,288 shares during the period. Advisory Services Network LLC lifted its stake in shares of Petco Health and Wellness by 61.9% during the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock worth $37,000 after buying an additional 1,554 shares during the period. Finally, FMR LLC raised its holdings in shares of Petco Health and Wellness by 1,396.5% during the first quarter. FMR LLC now owns 5,148 shares of the company’s stock worth $46,000 after purchasing an additional 4,804 shares during the last quarter. 62.27% of the stock is currently owned by institutional investors and hedge funds.

About Petco Health and Wellness

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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.