Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up on Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped up prior to trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $4.00 to $4.48. The stock had previously closed at $2.44, but opened at $2.93. The Goldman Sachs Group currently has a buy rating on the stock. Petco Health and Wellness shares last traded at $3.28, with a volume of 8,535,383 shares traded.

A number of other brokerages also recently weighed in on WOOF. Robert W. Baird lowered their price target on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley dropped their target price on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada decreased their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group dropped their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wedbush decreased their target price on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.85.

Institutional Trading of Petco Health and Wellness

A number of institutional investors and hedge funds have recently made changes to their positions in WOOF. Intech Investment Management LLC bought a new position in Petco Health and Wellness in the 3rd quarter worth $144,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Petco Health and Wellness in the third quarter worth $412,000. FMR LLC raised its stake in Petco Health and Wellness by 170.9% during the 3rd quarter. FMR LLC now owns 1,521,516 shares of the company’s stock valued at $6,923,000 after purchasing an additional 959,960 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Petco Health and Wellness by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 50,153 shares of the company’s stock valued at $228,000 after purchasing an additional 28,259 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Petco Health and Wellness by 11.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,413 shares of the company’s stock worth $1,476,000 after purchasing an additional 34,198 shares during the last quarter.

Petco Health and Wellness Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average price is $2.97 and its 200 day moving average price is $3.91. The firm has a market cap of $927.81 million, a price-to-earnings ratio of -7.40 and a beta of 1.92.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. 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.