Petco Health and Wellness (NASDAQ:WOOF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Petco Health and Wellness (NASDAQ:WOOF) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Several other research analysts have also issued reports on WOOF. Royal Bank of Canada reissued an “outperform” rating and issued a $6.00 price target on shares of Petco Health and Wellness in a research report on Friday, December 20th. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of Petco Health and Wellness in a report on Wednesday, February 19th. Citigroup dropped their price target on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company boosted their price objective 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. Finally, Morgan Stanley lowered their target price on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.28.

Petco Health and Wellness Stock Performance

Shares of NASDAQ WOOF opened at $2.41 on Thursday. Petco Health and Wellness has a one year low of $1.41 and a one year high of $6.29. The firm has a market capitalization of $755.41 million, a price-to-earnings ratio of -6.03 and a beta of 1.92. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $3.10 and a 200 day simple moving average of $3.93.

Institutional Trading of Petco Health and Wellness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WOOF. Dimensional Fund Advisors LP increased its position in Petco Health and Wellness by 269.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company’s stock worth $12,354,000 after purchasing an additional 2,365,654 shares during the period. Norges Bank acquired a new stake in shares of Petco Health and Wellness during the 4th quarter worth approximately $8,864,000. Bridgeway Capital Management LLC acquired a new stake in Petco Health and Wellness during the 4th quarter worth $8,604,000. Driehaus Capital Management LLC acquired a new stake in Petco Health and Wellness during the 4th quarter worth $6,887,000. Finally, Nuveen Asset Management LLC grew its holdings in Petco Health and Wellness by 513.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company’s stock worth $8,009,000 after acquiring an additional 1,759,570 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.