Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up Following Analyst Upgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares gapped up before the market opened on Thursday after The Goldman Sachs Group raised their price target on the stock from $4.00 to $4.48. The stock had previously closed at $2.44, but opened at $2.93. The Goldman Sachs Group currently has a buy rating on the stock. Petco Health and Wellness shares last traded at $3.28, with a volume of 8,535,383 shares changing hands.

Several other research firms have also recently issued reports on WOOF. UBS Group decreased their price objective on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada decreased their price target on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday. Robert W. Baird dropped their price objective on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Wedbush dropped 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 report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.85.

Institutional Investors Weigh In On Petco Health and Wellness

Several institutional investors have recently bought and sold shares of WOOF. Dimensional Fund Advisors LP lifted its holdings in shares of Petco Health and Wellness by 269.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company’s stock valued at $12,354,000 after acquiring an additional 2,365,654 shares in the last quarter. Norges Bank purchased a new position in Petco Health and Wellness in the fourth quarter valued at about $8,864,000. Bridgeway Capital Management LLC acquired a new position in shares of Petco Health and Wellness during the fourth quarter worth about $8,604,000. Driehaus Capital Management LLC purchased a new stake in shares of Petco Health and Wellness in the fourth quarter worth about $6,887,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Petco Health and Wellness by 513.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company’s stock valued at $8,009,000 after buying an additional 1,759,570 shares in the last quarter.

Petco Health and Wellness Trading Down 7.8 %

The firm has a market capitalization of $927.81 million, a PE ratio of -7.40 and a beta of 1.92. The firm has a fifty day moving average of $2.97 and a 200 day moving average of $3.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84.

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.