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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) dropped 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 daily volume of 4,398,976 shares. The stock had previously closed at $3.21.

A number of other equities analysts also recently issued reports on WOOF. Wedbush decreased their price target 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. Royal Bank of Canada decreased their target price on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday. 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. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Robert W. Baird decreased their price objective on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.85.

Institutional Investors Weigh In On Petco Health and Wellness

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in Petco Health and Wellness during the 4th quarter valued at about $25,000. Scotia Capital Inc. bought a new stake in shares of Petco Health and Wellness in the fourth quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Petco Health and Wellness by 253.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after purchasing an additional 8,056 shares during the last quarter. Blueprint Investment Partners LLC bought a new position in Petco Health and Wellness during the fourth quarter valued at approximately $44,000. Finally, New York State Common Retirement Fund boosted its holdings in Petco Health and Wellness by 47.6% in 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 last quarter.

Petco Health and Wellness Stock Performance

The firm has a market cap of $927.81 million, a P/E 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 business’s 50-day simple moving average is $2.97 and its 200 day simple moving average is $3.91.

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.