Petco Health and Wellness (NASDAQ:WOOF) Shares Down 7.6% – Should You Sell?

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) traded down 7.6% on Wednesday . The company traded as low as $2.95 and last traded at $2.90. 434,499 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 3,506,731 shares. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. StockNews.com lowered shares of Petco Health and Wellness from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Wells Fargo & Company boosted their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Wedbush boosted their target price on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.16.

Petco Health and Wellness Trading Down 9.7 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The stock has a market cap of $888.63 million, a price-to-earnings ratio of -7.01 and a beta of 1.88. The company’s fifty day moving average price is $3.76 and its 200-day moving average price is $3.96.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently bought and sold shares of WOOF. International Assets Investment Management LLC boosted its position in Petco Health and Wellness by 311.1% in the 3rd quarter. International Assets Investment Management LLC now owns 170,398 shares of the company’s stock worth $775,000 after purchasing an additional 128,948 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Petco Health and Wellness during the 3rd quarter worth approximately $2,120,000. Principal Financial Group Inc. acquired a new position in shares of Petco Health and Wellness during the 3rd quarter worth approximately $728,000. Versor Investments LP acquired a new position in shares of Petco Health and Wellness during the 3rd quarter worth approximately $175,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Petco Health and Wellness by 30.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,079,122 shares of the company’s stock worth $4,910,000 after buying an additional 251,929 shares during the period.

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.