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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share 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 trading hands.

Other equities research analysts have also issued reports about the company. Robert W. Baird lowered their price objective on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Morgan Stanley lowered their price target on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup lowered their target price on shares of Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Wedbush cut their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.85.

Institutional Investors Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake 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 valued at $12,354,000 after purchasing an additional 2,365,654 shares during the last quarter. Norges Bank bought a new position in Petco Health and Wellness in the 4th quarter valued at $8,864,000. Bridgeway Capital Management LLC acquired a new stake in shares of Petco Health and Wellness in the 4th quarter valued at $8,604,000. Driehaus Capital Management LLC bought a new stake in shares of Petco Health and Wellness during the fourth quarter worth $6,887,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Petco Health and Wellness by 513.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company’s stock valued at $8,009,000 after acquiring an additional 1,759,570 shares during the period.

Petco Health and Wellness Stock Performance

The firm has a fifty day moving average of $2.97 and a 200-day moving average of $3.91. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market cap of $927.81 million, a P/E 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.