Morgan Stanley Has Lowered Expectations for Petco Health and Wellness (NASDAQ:WOOF) Stock Price

Petco Health and Wellness (NASDAQ:WOOF) had its price objective reduced by equities researchers at Morgan Stanley from $6.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 29.03% from the stock’s current price.

A number of other analysts have also issued reports on WOOF. Wells Fargo & Company boosted their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Wedbush boosted their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a $6.00 target price on shares of Petco Health and Wellness in a research note on Friday, December 20th. Finally, StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.16.

Petco Health and Wellness Stock Up 6.2 %

Shares of WOOF stock traded up $0.23 during trading hours on Tuesday, reaching $3.88. The company had a trading volume of 1,022,259 shares, compared to its average volume of 3,749,500. The stock’s fifty day simple moving average is $4.19 and its 200 day simple moving average is $3.96. The company has a market capitalization of $1.21 billion, a P/E ratio of -9.69 and a beta of 1.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. Petco Health and Wellness has a twelve month low of $1.41 and a twelve month high of $6.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WOOF. Frank Rimerman Advisors LLC bought a new position in Petco Health and Wellness in the second quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Petco Health and Wellness by 253.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock worth $51,000 after purchasing an additional 8,056 shares during the period. Quadrature Capital Ltd acquired a new position in Petco Health and Wellness during the 3rd quarter valued at approximately $58,000. Sanctuary Advisors LLC bought a new position in Petco Health and Wellness during the 3rd quarter worth $66,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Petco Health and Wellness in the second quarter worth $78,000.

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.