Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 11.1% on Analyst Downgrade

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares were down 11.1% during mid-day trading on Friday after UBS Group lowered their price target on the stock from $5.50 to $3.25. UBS Group currently has a neutral rating on the stock. Petco Health and Wellness traded as low as $2.87 and last traded at $2.86. Approximately 1,189,681 shares traded hands during trading, a decline of 73% from the average daily volume of 4,398,976 shares. The stock had previously closed at $3.21.

Other equities analysts also recently issued reports about the company. Citigroup reduced their price target on Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. StockNews.com raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Wells Fargo & Company raised their price objective 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 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 research report on Thursday. Finally, Wedbush lowered their price objective on Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.85.

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Institutional Investors Weigh In On Petco Health and Wellness

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

Petco Health and Wellness Stock 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's 50 day moving average is $2.97 and its 200 day moving average is $3.92. The stock has a market capitalization of $956.02 million, a price-to-earnings ratio of -7.63 and a beta of 1.92.

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.