Royal Bank of Canada Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $4.00

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by Royal Bank of Canada from $6.00 to $4.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

WOOF has been the topic of a number of other reports. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company raised their target price on shares of 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. Wedbush reduced their price target on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday. Morgan Stanley lowered their price objective on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Finally, Citigroup reduced their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.85.

Petco Health and Wellness Price Performance

Shares of WOOF stock opened at $2.96 on Thursday. The stock’s 50-day moving average is $2.97 and its 200 day moving average is $3.92. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The company has a market cap of $927.81 million, a P/E ratio of -7.40 and a beta of 1.92.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently modified their holdings of WOOF. Holocene Advisors LP raised its position in Petco Health and Wellness by 8.7% during the 3rd 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 raised its holdings in shares of Petco Health and Wellness by 269.8% during the fourth 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 during the last quarter. Point72 Asset Management L.P. lifted its position in Petco Health and Wellness by 62.0% during 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 purchasing an additional 923,735 shares during the period. Norges Bank purchased a new stake in Petco Health and Wellness in the fourth quarter valued at $8,864,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Petco Health and Wellness during the 4th quarter worth about $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.