Citigroup Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $2.75

Petco Health and Wellness (NASDAQ:WOOF) had its price objective dropped by Citigroup from $5.00 to $2.75 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 12.02% from the stock’s previous close.

Several other equities analysts have also recently commented on WOOF. Royal Bank of Canada restated an “outperform” rating and set a $6.00 price target on shares of Petco Health and Wellness in a report on Friday, December 20th. StockNews.com raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley cut their price objective on shares of Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of Petco Health and Wellness in a report on Wednesday, February 19th. Finally, 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 report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Petco Health and Wellness has an average rating of “Hold” and a consensus target price of $4.28.

Petco Health and Wellness Stock Down 1.8 %

Shares of WOOF traded down $0.05 during mid-day trading on Tuesday, reaching $2.46. 702,359 shares of the stock traded hands, compared to its average volume of 4,335,762. The firm has a market cap of $769.51 million, a price-to-earnings ratio of -6.16 and a beta of 1.92. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $6.29. The stock has a fifty day simple moving average of $3.20 and a 200 day simple moving average of $3.96. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new position in Petco Health and Wellness in the 4th quarter worth about $25,000. Scotia Capital Inc. bought a new position in shares of Petco Health and Wellness during the 4th quarter valued at approximately $41,000. New York State Common Retirement Fund lifted its position in Petco Health and Wellness by 47.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,508 shares of the company’s stock worth $44,000 after buying an additional 3,711 shares during the last quarter. Blueprint Investment Partners LLC purchased a new stake in Petco Health and Wellness in the fourth quarter worth $44,000. Finally, Quantinno Capital Management LP purchased a new stake in Petco Health and Wellness in the fourth quarter worth $45,000.

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.