Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 11.1% on Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price fell 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. 1,189,681 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 4,398,976 shares. The stock had previously closed at $3.21.

Several other equities analysts also recently weighed in on WOOF. Wedbush reduced 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. Citigroup cut their price objective 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. 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 report on Friday, December 6th. Robert W. Baird cut their price target on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada lowered 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 note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Petco Health and Wellness presently has an average rating of “Hold” and a consensus target price of $3.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WOOF. PDT Partners LLC acquired a new stake in shares of Petco Health and Wellness during the 3rd quarter worth approximately $865,000. Invenomic Capital Management LP acquired a new stake in Petco Health and Wellness in the third quarter worth $2,747,000. JPMorgan Chase & Co. lifted its stake in Petco Health and Wellness by 328.0% in the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock valued at $8,014,000 after buying an additional 1,349,728 shares during the last quarter. FMR LLC boosted its holdings in shares of Petco Health and Wellness by 170.9% during the third quarter. FMR LLC now owns 1,521,516 shares of the company’s stock valued at $6,923,000 after acquiring an additional 959,960 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of Petco Health and Wellness during the third quarter worth about $728,000.

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 has a market cap of $894.89 million, a price-to-earnings ratio of -7.14 and a beta of 1.92. The stock’s fifty day moving average is $2.98 and its two-hundred day moving average is $3.91.

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.