Petco Health and Wellness (NASDAQ:WOOF) Price Target Cut to $4.00 by Analysts at Wedbush

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by equities researchers at Wedbush from $6.00 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 23.34% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Robert W. Baird cut 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. Wells Fargo & Company boosted their price target on 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. Morgan Stanley dropped their price objective 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. Finally, StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Petco Health and Wellness presently has a consensus rating of “Hold” and an average target price of $4.00.

Petco Health and Wellness Stock Up 32.9 %

NASDAQ:WOOF traded up $0.80 during mid-day trading on Thursday, reaching $3.24. The company’s stock had a trading volume of 9,933,969 shares, compared to its average volume of 4,369,898. Petco Health and Wellness has a 1 year low of $1.41 and a 1 year high of $6.29. 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 firm has a market capitalization of $1.02 billion, a PE ratio of -8.18 and a beta of 1.92. The stock has a fifty day moving average of $2.99 and a 200-day moving average of $3.92.

Institutional Investors Weigh In On Petco Health and Wellness

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

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.