Petco Health and Wellness (NASDAQ:WOOF) Price Target Lowered to $5.00 at Morgan Stanley

Petco Health and Wellness (NASDAQ:WOOF - Free Report) had its price objective reduced by Morgan Stanley from $6.00 to $5.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

WOOF has been the topic of several other reports. Wells Fargo & Company increased 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 note on Friday, December 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a report on Friday, December 20th. Wedbush upped their target price on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.16.

Petco Health and Wellness Stock Performance

WOOF stock traded up $0.22 during trading on Tuesday, hitting $3.87. 3,856,330 shares of the company traded hands, compared to its average volume of 3,999,878. Petco Health and Wellness has a 1 year low of $1.41 and a 1 year high of $6.29. The company has a market cap of $1.21 billion, a PE ratio of -9.68 and a beta of 1.90. The stock's 50-day simple moving average is $4.18 and its 200 day simple moving average is $3.97. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

Institutional Trading of Petco Health and Wellness

A number of hedge funds and other institutional investors have recently modified their holdings of WOOF. Point72 Asset Management L.P. lifted its holdings in Petco Health and Wellness by 1,212.7% in the second quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company's stock valued at $6,863,000 after acquiring an additional 1,677,179 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in shares of Petco Health and Wellness by 50.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 833,153 shares of the company's stock valued at $3,149,000 after purchasing an additional 280,644 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Petco Health and Wellness during the 3rd quarter worth $865,000. Invenomic Capital Management LP acquired a new stake in shares of Petco Health and Wellness during the 3rd quarter worth about $2,747,000. Finally, JPMorgan Chase & Co. lifted its position 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.

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.