Royal Bank of Canada Reiterates Outperform Rating for Petco Health and Wellness (NASDAQ:WOOF)

Petco Health and Wellness (NASDAQ:WOOF)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They presently have a $6.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 51.52% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Morgan Stanley raised their price target on Petco Health and Wellness from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Citigroup increased their price objective on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group dropped their target price on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.25.

Petco Health and Wellness Stock Performance

Shares of NASDAQ:WOOF opened at $3.96 on Friday. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $6.29. The company’s 50 day moving average price is $4.46 and its two-hundred day moving average price is $3.91. The firm has a market cap of $1.24 billion, a PE ratio of -9.90 and a beta of 1.89. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Petco Health and Wellness by 253.9% in the second quarter. Bank of New York Mellon Corp now owns 721,630 shares of the company’s stock valued at $2,728,000 after buying an additional 517,738 shares during the period. HB Wealth Management LLC increased its position in Petco Health and Wellness by 21.6% in the 2nd quarter. HB Wealth Management LLC now owns 25,949 shares of the company’s stock valued at $98,000 after acquiring an additional 4,615 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Petco Health and Wellness during the second quarter valued at $1,927,000. Searle & CO. acquired a new position in shares of Petco Health and Wellness during the second quarter worth $76,000. Finally, nVerses Capital LLC bought a new stake in shares of Petco Health and Wellness in the second quarter worth $52,000.

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.