Royal Bank of Canada Issues Pessimistic Forecast for Petco Health and Wellness (NASDAQ:WOOF) Stock Price

Petco Health and Wellness (NASDAQ:WOOF) had its target price lowered by Royal Bank of Canada from $6.00 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Citigroup lowered their price target on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company increased 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 report on Friday, December 6th. Wedbush cut 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. Robert W. Baird decreased 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 report on Thursday. Finally, Morgan Stanley cut their target price on shares of Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.85.

Petco Health and Wellness Trading Down 7.8 %

Shares of Petco Health and Wellness stock opened at $2.96 on Thursday. The firm has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $3.92. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29. The company has a market cap of $927.81 million, a P/E ratio of -7.40 and a beta of 1.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Holocene Advisors LP increased its position 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 purchasing an additional 602,602 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $12,354,000 after buying an additional 2,365,654 shares during the period. Point72 Asset Management L.P. raised its position 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 valued at $9,192,000 after buying an additional 923,735 shares during the period. Norges Bank acquired a new position in Petco Health and Wellness in the fourth quarter valued at approximately $8,864,000. Finally, Bridgeway Capital Management LLC purchased a new position in Petco Health and Wellness in the fourth quarter worth approximately $8,604,000.

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.