Petco Health and Wellness (NASDAQ:WOOF) Shares Up 3.2% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price rose 3.2% during mid-day trading on Monday . The company traded as high as $3.06 and last traded at $3.06. Approximately 2,816,294 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 4,554,405 shares. The stock had previously closed at $2.96.

Wall Street Analysts Forecast Growth

WOOF has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Wells Fargo & Company upped their price target on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Robert W. Baird lowered their price objective on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. Citigroup reduced their target price on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Finally, UBS Group dropped their price target on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Petco Health and Wellness presently has an average rating of “Hold” and a consensus price target of $3.85.

Petco Health and Wellness Stock Up 3.0 %

The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. The business has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $3.92. The firm has a market capitalization of $956.02 million, a price-to-earnings ratio of -7.63 and a beta of 1.92.

Institutional Trading of Petco Health and Wellness

Hedge funds have recently made changes to their positions in the company. PDT Partners LLC purchased a new stake in shares of Petco Health and Wellness during the 3rd quarter valued at approximately $865,000. Invenomic Capital Management LP purchased a new stake in Petco Health and Wellness in the third quarter valued at $2,747,000. JPMorgan Chase & Co. lifted its stake in shares of Petco Health and Wellness by 328.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock valued at $8,014,000 after purchasing an additional 1,349,728 shares during the last quarter. FMR LLC grew its holdings in shares of Petco Health and Wellness by 170.9% during the 3rd quarter. FMR LLC now owns 1,521,516 shares of the company’s stock worth $6,923,000 after purchasing an additional 959,960 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Petco Health and Wellness during the 3rd quarter worth about $728,000.

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.