Petco Health and Wellness (NASDAQ:WOOF) Shares Up 3.2% - Time to Buy?

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of 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. Royal Bank of Canada cut their target price on shares of 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. Wedbush decreased 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 report on Thursday, March 27th. Wells Fargo & Company raised their price objective on 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. Finally, StockNews.com upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $4.11.

Petco Health and Wellness Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The stock has a market cap of $896.46 million, a price-to-earnings ratio of -7.15 and a beta of 1.92. The company has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $3.89.

Institutional Investors Weigh In On Petco Health and Wellness

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

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.