Petco Health and Wellness (NASDAQ:WOOF) Shares Down 11.1% After Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price was down 11.1% on Friday after UBS Group lowered their price target on the stock from $5.50 to $3.25. UBS Group currently has a neutral rating on the stock. Petco Health and Wellness traded as low as $2.87 and last traded at $2.86. Approximately 1,189,681 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,398,976 shares. The stock had previously closed at $3.21.

A number of other equities research analysts have also issued reports on the stock. Wedbush cut their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday. Morgan Stanley dropped their price target on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Robert W. Baird cut their price objective on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report 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. According to data from MarketBeat.com, Petco Health and Wellness currently has an average rating of “Hold” and a consensus price target of $3.85.

Hedge Funds Weigh In On Petco Health and Wellness

Several hedge funds and other institutional investors have recently modified their holdings of WOOF. Holocene Advisors LP raised its stake in Petco Health and Wellness by 8.7% during the third quarter. Holocene Advisors LP now owns 7,557,293 shares of the company’s stock worth $34,386,000 after acquiring an additional 602,602 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Petco Health and Wellness by 269.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company’s stock valued at $12,354,000 after purchasing an additional 2,365,654 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Petco Health and Wellness by 62.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,412,697 shares of the company’s stock valued at $9,192,000 after buying an additional 923,735 shares in the last quarter. Norges Bank bought a new stake in Petco Health and Wellness during the 4th quarter worth about $8,864,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Petco Health and Wellness in the 4th quarter valued at about $8,604,000.

Petco Health and Wellness Stock Performance

The firm’s 50-day moving average price is $2.98 and its 200 day moving average price is $3.91. The company has a market cap of $894.89 million, a price-to-earnings ratio of -7.14 and a beta of 1.92. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84.

About Petco Health and Wellness

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.