Petco Health and Wellness (NASDAQ:WOOF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Petco Health and Wellness (NASDAQ:WOOF - Free Report) from a hold rating to a buy rating in a research note published on Thursday morning.

Other analysts also recently issued research reports about the stock. Wedbush reiterated an "outperform" rating and issued a $6.00 target price on shares of Petco Health and Wellness in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Morgan Stanley decreased their target price on Petco Health and Wellness from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Finally, Citigroup cut their price target on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, four 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 has a consensus rating of "Hold" and a consensus target price of $4.28.

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Petco Health and Wellness Trading Up 1.2 %

NASDAQ WOOF traded up $0.03 during trading hours on Thursday, reaching $2.44. The company had a trading volume of 3,641,534 shares, compared to its average volume of 4,311,799. Petco Health and Wellness has a 1-year low of $1.41 and a 1-year high of $6.29. The stock has a market capitalization of $764.81 million, a P/E ratio of -6.10 and a beta of 1.92. The stock has a 50-day moving average of $3.07 and a 200 day moving average of $3.93. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new position in Petco Health and Wellness in the third quarter worth approximately $728,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Petco Health and Wellness by 30.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,079,122 shares of the company's stock worth $4,910,000 after purchasing an additional 251,929 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Petco Health and Wellness during the 3rd quarter worth $144,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Petco Health and Wellness during the third quarter worth $412,000. Finally, FMR LLC increased its holdings in Petco Health and Wellness by 170.9% in the third 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 during the last quarter.

Petco Health and Wellness Company Profile

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.