Petco Health and Wellness (NASDAQ:WOOF) Shares Up 3.2% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) shares were up 3.2% on Monday . The stock traded as high as $3.06 and last traded at $3.06. Approximately 2,816,294 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 4,554,405 shares. The stock had previously closed at $2.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price 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, March 27th. The Goldman Sachs Group lifted their target price on shares of Petco Health and Wellness from $4.00 to $4.48 and gave the company a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley decreased their price target on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. UBS Group cut their price objective on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Finally, Wedbush decreased their target price on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Petco Health and Wellness presently has an average rating of “Hold” and a consensus target price of $3.85.

Petco Health and Wellness Stock Up 11.5 %

The firm has a 50 day moving average price of $2.94 and a 200-day moving average price of $3.90. 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 firm has a market cap of $1.03 billion, a price-to-earnings ratio of -8.25 and a beta of 1.92.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings 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 valued at $12,354,000 after buying an additional 2,365,654 shares during the period. Norges Bank acquired a new position in shares of Petco Health and Wellness in the 4th quarter valued at $8,864,000. Bridgeway Capital Management LLC bought a new position in shares of Petco Health and Wellness in the 4th quarter worth $8,604,000. Driehaus Capital Management LLC acquired a new stake in shares of Petco Health and Wellness during the fourth quarter worth $6,887,000. Finally, Nuveen Asset Management LLC increased its holdings in 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 purchasing an additional 1,759,570 shares during the last quarter.

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.