StockNews.com Downgrades Petco Health and Wellness (NASDAQ:WOOF) to Hold

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

WOOF has been the topic of several other reports. Wells Fargo & Company lifted their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $6.00 price objective on shares of Petco Health and Wellness in a research report on Friday, December 20th. Morgan Stanley lowered 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 report on Tuesday, January 21st. Finally, Wedbush boosted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.16.

Petco Health and Wellness Stock Performance

Shares of NASDAQ WOOF traded down $0.04 during mid-day trading on Friday, hitting $3.10. The company had a trading volume of 14,007,990 shares, compared to its average volume of 3,928,409. Petco Health and Wellness has a 12 month low of $1.41 and a 12 month high of $6.29. The stock has a market cap of $971.70 million, a price-to-earnings ratio of -7.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The firm's 50 day simple moving average is $3.76 and its two-hundred day simple moving average is $3.96.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently modified their holdings of the stock. Holocene Advisors LP lifted its holdings in shares of Petco Health and Wellness by 8.7% during the third quarter. Holocene Advisors LP now owns 7,557,293 shares of the company's stock valued at $34,386,000 after purchasing an additional 602,602 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $12,354,000 after buying an additional 2,365,654 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Petco Health and Wellness by 62.0% during the 4th quarter. Point72 Asset Management L.P. now owns 2,412,697 shares of the company's stock valued at $9,192,000 after acquiring an additional 923,735 shares in the last quarter. Norges Bank purchased a new stake in shares of Petco Health and Wellness during the fourth quarter worth $8,864,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Petco Health and Wellness during the fourth quarter valued at $8,604,000.

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.