Morgan Stanley Lowers Petco Health and Wellness (NASDAQ:WOOF) Price Target to $5.00

Petco Health and Wellness (NASDAQ:WOOF) had its target price dropped by equities researchers at Morgan Stanley from $6.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 29.03% from the stock’s previous close.

A number of other equities analysts also recently issued reports on WOOF. Wells Fargo & Company increased 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Wedbush lifted their price target on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.16.

Petco Health and Wellness Stock Up 6.2 %

Petco Health and Wellness stock traded up $0.23 during mid-day trading on Tuesday, hitting $3.88. The company had a trading volume of 1,022,259 shares, compared to its average volume of 3,749,500. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -9.69 and a beta of 1.90. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. Petco Health and Wellness has a 1 year low of $1.41 and a 1 year high of $6.29. The business has a fifty day moving average of $4.19 and a 200 day moving average of $3.96.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently modified their holdings of WOOF. AQR Capital Management LLC boosted its holdings in shares of Petco Health and Wellness by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after purchasing an additional 2,953,667 shares during the last quarter. Millennium Management LLC boosted its holdings in Petco Health and Wellness by 233.7% in the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after acquiring an additional 1,876,233 shares during the last quarter. Point72 Asset Management L.P. grew its position in Petco Health and Wellness by 1,212.7% during the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock valued at $6,863,000 after acquiring an additional 1,677,179 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Petco Health and Wellness by 328.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock worth $8,014,000 after purchasing an additional 1,349,728 shares during the period. Finally, Marshall Wace LLP increased its position in Petco Health and Wellness by 47.3% during the 2nd quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock worth $12,857,000 after purchasing an additional 1,092,204 shares in the last quarter.

Petco Health and Wellness Company Profile

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.