Petco Health and Wellness Company Inc. (NASDAQ:WOOF) is one of the best pet stocks to buy according to hedge funds. Evercore ISI cut the price target on Petco Health and Wellness Company Inc. (NASDAQ:WOOF) to $3 from $4 on February 3, maintaining an In Line rating on the shares and telling investors that it adjusted price targets among its Retail Broadlines & Hardlines coverage.
The rating update came after Petco Health and Wellness Company Inc. (NASDAQ:WOOF) announced the successful closing of the previously announced long-term debt refinancing on February 2, along with the transition of Glenn Murphy, Executive Chairman of Petco, to Chairman of the Board of Directors, effective February 1.
Petco Health and Wellness Company Inc. (NASDAQ:WOOF) also announced on January 12 the launch of a debt refinancing transaction to extend maturities, and reaffirmed its guidance for fiscal Q4 and full year 2025 ending January 31, 2026. The company stated that it intends to refinance $1.5 billion of its current term loan outstanding, subject to market and other conditions, adding that it can provide no assurances that it will complete the refinancing in whole or in part. It also reaffirmed its guidance for net sales and adjusted EBITDA for fiscal Q4 and full year 2025.
Petco Health and Wellness Company Inc. (NASDAQ:WOOF) provides pet health and wellness services and has operations across the U.S., Mexico, and Puerto Rico. The company also offers online resources for pet health and wellness.
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Disclosure: None. This article is originally published at Insider Monkey.
