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

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares were down 11.1% 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 changed hands during mid-day trading, a decline of 73% from the average daily volume of 4,398,976 shares. The stock had previously closed at $3.21.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada lowered their price target 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, March 27th. Robert W. Baird decreased 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. 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 for the company in a report on Tuesday, January 21st. Citigroup decreased their price objective on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $3.85.

Institutional Trading of Petco Health and Wellness

Hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in shares of Petco Health and Wellness in the third quarter valued at approximately $144,000. FMR LLC grew its holdings in Petco Health and Wellness by 170.9% in the 3rd quarter. FMR LLC now owns 1,521,516 shares of the company's stock valued at $6,923,000 after buying an additional 959,960 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Petco Health and Wellness by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 50,153 shares of the company's stock worth $228,000 after acquiring an additional 28,259 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Petco Health and Wellness by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,413 shares of the company's stock worth $1,476,000 after acquiring an additional 34,198 shares during the period. Finally, Verition Fund Management LLC boosted its position in shares of Petco Health and Wellness by 9.0% during the 3rd quarter. Verition Fund Management LLC now owns 960,186 shares of the company's stock valued at $4,369,000 after acquiring an additional 79,082 shares during the last quarter.

Petco Health and Wellness Price Performance

The stock has a market cap of $954.45 million, a PE ratio of -7.61 and a beta of 1.92. The stock's fifty day moving average is $2.96 and its 200-day moving average is $3.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

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.