Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.96, but opened at $3.20. Petco Health and Wellness shares last traded at $3.40, with a volume of 2,039,718 shares traded.

Analysts Set New Price Targets

WOOF has been the subject of several recent analyst 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. UBS Group decreased their price target on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group upped their price objective on Petco Health and Wellness from $4.00 to $4.48 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company raised their price objective on shares of 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. Finally, Citigroup reduced their target price on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.85.

Petco Health and Wellness Trading Up 15.3 %

The business’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.90. The company has a market cap of $1.07 billion, a PE ratio of -8.52 and a beta of 1.92. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Petco Health and Wellness in the 3rd quarter valued at approximately $144,000. FMR LLC lifted its stake in Petco Health and Wellness by 170.9% in the third quarter. FMR LLC now owns 1,521,516 shares of the company’s stock valued at $6,923,000 after acquiring an additional 959,960 shares during the last quarter. MetLife Investment Management LLC grew its position in Petco Health and Wellness by 129.1% in the third quarter. MetLife Investment Management LLC now owns 50,153 shares of the company’s stock worth $228,000 after acquiring an additional 28,259 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Petco Health and Wellness by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,413 shares of the company’s stock worth $1,476,000 after purchasing an additional 34,198 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Petco Health and Wellness by 9.0% during the 3rd quarter. Verition Fund Management LLC now owns 960,186 shares of the company’s stock valued at $4,369,000 after purchasing an additional 79,082 shares in the last quarter.

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.