Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up After Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price gapped up before the market opened on Thursday after The Goldman Sachs Group raised their price target on the stock from $4.00 to $4.48. The stock had previously closed at $2.44, but opened at $2.93. The Goldman Sachs Group currently has a buy rating on the stock. Petco Health and Wellness shares last traded at $3.28, with a volume of 8,535,383 shares traded.

A number of other research firms have also issued reports on WOOF. Robert W. Baird dropped their target price on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada cut their price objective on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday. Wedbush lowered their target price on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company increased their price target on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, UBS Group lowered their price objective on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.85.

Hedge Funds Weigh In On Petco Health and Wellness

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PDT Partners LLC purchased a new position in shares of Petco Health and Wellness in the third quarter valued at $865,000. Invenomic Capital Management LP acquired a new stake in shares of Petco Health and Wellness in the third quarter valued at approximately $2,747,000. JPMorgan Chase & Co. increased its stake in shares of Petco Health and Wellness by 328.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock worth $8,014,000 after purchasing an additional 1,349,728 shares in the last quarter. FMR LLC raised its position in shares of Petco Health and Wellness by 170.9% during the 3rd quarter. FMR LLC now owns 1,521,516 shares of the company’s stock worth $6,923,000 after purchasing an additional 959,960 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Petco Health and Wellness in the 3rd quarter valued at approximately $728,000.

Petco Health and Wellness Trading Down 7.8 %

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. The business has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $3.91. The stock has a market cap of $927.81 million, a price-to-earnings ratio of -7.40 and a beta of 1.92.

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.