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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WOOF shares. Wedbush cut their target price on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. UBS Group cut their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Citigroup lowered their target price on shares of 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. Morgan Stanley cut their price target 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. Finally, The Goldman Sachs Group raised their price objective on shares of Petco Health and Wellness from $4.00 to $4.48 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.11.

Petco Health and Wellness Stock Performance

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 firm’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.89. The firm has a market cap of $921.54 million, a P/E ratio of -7.35 and a beta of 1.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WOOF. Aster Capital Management DIFC Ltd acquired a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $25,000. Scotia Capital Inc. acquired a new stake in shares of Petco Health and Wellness in the 4th quarter worth $41,000. New York State Common Retirement Fund boosted its position in shares of Petco Health and Wellness by 47.6% in the 4th quarter. New York State Common Retirement Fund now owns 11,508 shares of the company’s stock worth $44,000 after purchasing an additional 3,711 shares in the last quarter. Blueprint Investment Partners LLC purchased a new position in Petco Health and Wellness during the 4th quarter worth $44,000. Finally, Quantinno Capital Management LP acquired a new position in Petco Health and Wellness during the 4th quarter valued at about $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.