Analysts Assign Average Price Target of $3.95 for Petco Stock

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) has received an average price target of approximately $3.95 from twelve analysts currently covering the firm, according to data from MarketBeat Ratings. The analysts have issued a range of ratings, with one categorizing the stock as a sell, eight as holds, and three as buys.

Several brokerages have recently provided updates on Petco’s stock. On October 4, Wall Street Zen upgraded Petco from a “hold” to a “buy” rating. On August 29, Robert W. Baird raised its price objective from $3.50 to $4.00 while maintaining a “neutral” rating. Similarly, Guggenheim reaffirmed its “neutral” rating on September 2. In a contrasting move, Zacks Research downgraded the stock from a “strong-buy” to a “hold” on October 28. Additionally, Wells Fargo & Company raised its price target to $4.00 from $3.50 and assigned an “equal weight” rating.

Current Stock Performance

As of Monday, Petco’s stock opened at $3.04, reflecting a decline of 1.9%. The stock has experienced fluctuations over the past year, reaching a low of $2.28 and a high of $6.29. The fifty-day moving average stands at $3.53, while the two-hundred-day moving average is $3.31. Presently, Petco’s market capitalization is approximately $966.87 million, with a price-to-earnings ratio of -30.40 and a beta of 1.71. Financial metrics include a quick ratio of 0.31, a current ratio of 0.89, and a debt-to-equity ratio of 1.39.

The company recently announced its quarterly earnings results on August 28, reporting earnings per share of $0.05, surpassing the analysts’ consensus estimate of $0.02 by $0.03. Despite this positive outcome, Petco’s revenue for the quarter was $1.49 billion, matching analysts’ expectations but reflecting a 2.3% decrease compared to the previous year. The firm had a negative return on equity of -1.71% and a negative net margin of -0.47%. Analysts forecast a projected earnings per share of -$0.22 for the current fiscal year.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc. operates as a health and wellness entity focused on improving the lives of pets, their owners, and Petco partners across the United States, Mexico, and Puerto Rico. The company offers a range of services including veterinary care, grooming, training, telehealth, and pet health insurance, along with veterinary services through its mobile clinics.

Investors and analysts remain attentive to Petco Health and Wellness as they navigate the market landscape. The insights and ratings provided by various brokerages will likely influence investor sentiment and stock performance in the coming months.