Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.8% – What’s Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares fell 4.8% on Monday . The company traded as low as $3.06 and last traded at $3.10. 1,374,587 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 3,411,851 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WOOF. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley cut their price target on 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. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Wells Fargo & Company lifted 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. Finally, Wedbush increased their price target on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Trading Up 2.7 %

The company has a market cap of $959.16 million, a PE ratio of -7.65 and a beta of 1.88. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The business has a 50 day simple moving average of $3.95 and a two-hundred day simple moving average of $3.97.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Petco Health and Wellness in the 2nd quarter valued at $135,000. International Assets Investment Management LLC grew its position in shares of Petco Health and Wellness by 311.1% during the third quarter. International Assets Investment Management LLC now owns 170,398 shares of the company’s stock worth $775,000 after buying an additional 128,948 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Petco Health and Wellness in the 3rd quarter worth about $2,120,000. Principal Financial Group Inc. bought a new stake in Petco Health and Wellness in the third quarter valued at about $728,000. Finally, Versor Investments LP acquired a new stake in shares of Petco Health and Wellness during the 3rd quarter valued at approximately $175,000.

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.