Evercore ISI Has Lowered Expectations for Petco Health and Wellness (NASDAQ:WOOF) Stock Price

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by equities researchers at Evercore ISI from $4.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 14.94% from the company’s previous close.

Several other brokerages also recently weighed in on WOOF. Zacks Research downgraded shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research 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 equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.86.

Petco Health and Wellness Trading Up 0.4%

Shares of NASDAQ WOOF opened at $2.61 on Tuesday. Petco Health and Wellness has a 12-month low of $2.28 and a 12-month high of $4.51. The company has a market cap of $832.69 million, a price-to-earnings ratio of -260.74 and a beta of 1.72. The company has a current ratio of 0.91, a quick ratio of 0.35 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $2.96 and its 200 day simple moving average is $3.25.

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 firm 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 firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company earned ($0.02) earnings per share. Equities research analysts expect that Petco Health and Wellness will post -0.22 EPS for the current year.

Insider Activity at Petco Health and Wellness

In related news, CRO Patrick J. Venezia sold 74,192 shares of the firm’s stock in a transaction that occurred 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 owned 474,848 shares in the company, valued at $1,462,531.84. This trade represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Petco Health and Wellness

Hedge funds have recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of Petco Health and Wellness in the 4th quarter worth $316,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Petco Health and Wellness by 8.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,231 shares of the company’s stock worth $259,000 after acquiring an additional 6,847 shares during the period. Concurrent Investment Advisors LLC raised its position in Petco Health and Wellness by 166.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 34,856 shares of the company’s stock worth $98,000 after acquiring an additional 21,792 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Petco Health and Wellness by 59.9% in the 4th quarter. SG Americas Securities LLC now owns 90,410 shares of the company’s stock valued at $254,000 after acquiring an additional 33,878 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Petco Health and Wellness by 280.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,412 shares of the company’s stock valued at $3,221,000 after purchasing an additional 613,591 shares in the last quarter.

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.