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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price 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.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. UBS Group decreased their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a research report on Thursday. Robert W. Baird lowered their target price on shares of Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday. Royal Bank of Canada cut their price target on Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, StockNews.com upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Petco Health and Wellness currently has an average rating of "Hold" and an average target price of $3.85.

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Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently made changes to their positions in the company. PDT Partners LLC purchased a new stake in shares of Petco Health and Wellness during the third quarter worth approximately $865,000. Invenomic Capital Management LP acquired a new stake in Petco Health and Wellness during the 3rd quarter worth $2,747,000. JPMorgan Chase & Co. grew its holdings in shares of Petco Health and Wellness by 328.0% during the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company's stock worth $8,014,000 after buying an additional 1,349,728 shares in the last quarter. FMR LLC lifted its stake in shares of Petco Health and Wellness by 170.9% in the third quarter. FMR LLC now owns 1,521,516 shares of the company's stock worth $6,923,000 after buying an additional 959,960 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Petco Health and Wellness during the third quarter worth about $728,000.

Petco Health and Wellness Stock Performance

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 company has a market cap of $945.05 million, a PE ratio of -7.56 and a beta of 1.92. The firm's 50 day moving average is $2.97 and its 200-day moving average is $3.92.

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.