Petco Health and Wellness (NASDAQ:WOOF) Shares Down 11.1% After Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s stock price was down 11.1% during trading on Friday after UBS Group lowered their price target on the stock from $5.50 to $3.25. UBS Group currently has a neutral rating on the stock. Petco Health and Wellness traded as low as $2.87 and last traded at $2.86. Approximately 1,189,681 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,398,976 shares. The stock had previously closed at $3.21.

WOOF has been the topic of a number of other reports. StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Citigroup cut their target price on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company boosted their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Morgan Stanley dropped 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 research note on Tuesday, January 21st. Finally, Royal Bank of Canada reduced 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.85.

Hedge Funds Weigh In On Petco Health and Wellness

Several institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new stake in Petco Health and Wellness during the 4th quarter worth approximately $25,000. Scotia Capital Inc. purchased a new stake in shares of Petco Health and Wellness during the fourth quarter worth approximately $41,000. New York State Common Retirement Fund lifted its holdings in shares of Petco Health and Wellness by 47.6% during the fourth 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 during the period. Blueprint Investment Partners LLC purchased a new position in Petco Health and Wellness in the 4th quarter valued at $44,000. Finally, Quantinno Capital Management LP acquired a new position in Petco Health and Wellness in the 4th quarter valued at $45,000.

Petco Health and Wellness Stock Performance

The company has a market cap of $927.81 million, a PE ratio of -7.40 and a beta of 1.92. 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 stock’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $3.92.

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.