Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up - Still a Buy?

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $2.96, but opened at $3.20. Petco Health and Wellness shares last traded at $3.40, with a volume of 2,039,718 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank of Canada cut their price objective on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Robert W. Baird dropped their target price on Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. UBS Group reduced their price target on Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their price objective on Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a report on Thursday, March 27th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Petco Health and Wellness has an average rating of "Moderate Buy" and an average price target of $4.11.

Petco Health and Wellness Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market cap of $898.34 million, a PE ratio of -7.16 and a beta of 1.74. The firm has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $3.86.

Institutional Investors Weigh In On Petco Health and Wellness

Several institutional investors and hedge funds have recently added to or reduced their stakes in WOOF. New York State Common Retirement Fund raised its holdings in shares of Petco Health and Wellness by 47.6% during the 4th quarter. New York State Common Retirement Fund now owns 11,508 shares of the company's stock worth $44,000 after acquiring an additional 3,711 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Petco Health and Wellness by 40.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after buying an additional 4,526 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Petco Health and Wellness by 41.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 15,841 shares of the company's stock worth $60,000 after purchasing an additional 4,610 shares during the period. Swiss National Bank increased its holdings in Petco Health and Wellness by 2.6% in the 4th quarter. Swiss National Bank now owns 186,100 shares of the company's stock valued at $709,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Petco Health and Wellness by 0.5% in the fourth quarter. Renaissance Technologies LLC now owns 990,700 shares of the company's stock valued at $3,775,000 after purchasing an additional 5,100 shares during the period.

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.