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

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) fell 11.1% during 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. 1,189,681 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 4,398,976 shares. The stock had previously closed at $3.21.

WOOF has been the topic of several other reports. Wedbush lowered 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 note on Thursday. Robert W. Baird lowered their target price on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Morgan Stanley decreased their price objective 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. Finally, Citigroup cut their target price on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $25,000. Scotia Capital Inc. purchased a new stake in Petco Health and Wellness during the 4th quarter valued at $41,000. New York State Common Retirement Fund grew its holdings in Petco Health and Wellness by 47.6% in the 4th quarter. New York State Common Retirement Fund now owns 11,508 shares of the company’s stock worth $44,000 after acquiring an additional 3,711 shares during the last quarter. Blueprint Investment Partners LLC bought a new position in shares of Petco Health and Wellness during the fourth quarter valued at about $44,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Petco Health and Wellness during the fourth quarter worth about $45,000.

Petco Health and Wellness Stock Down 7.8 %

The company has a 50 day moving average of $2.97 and a 200-day moving average of $3.91. The company has a market capitalization of $927.81 million, a P/E ratio of -7.40 and a beta of 1.92. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

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.