Morgan Stanley Cuts Petco Health and Wellness (NASDAQ:WOOF) Price Target to $5.00

Petco Health and Wellness (NASDAQ:WOOF) had its target price cut by Morgan Stanley from $6.00 to $5.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company increased their price target on 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. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Wedbush boosted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, 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 note on Friday, December 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Petco Health and Wellness has an average rating of “Hold” and a consensus target price of $4.16.

Petco Health and Wellness Price Performance

Shares of WOOF opened at $3.86 on Tuesday. The company’s 50-day moving average is $4.17 and its 200-day moving average is $3.96. 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 has a market capitalization of $1.21 billion, a PE ratio of -9.65 and a beta of 1.90. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29.

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in Petco Health and Wellness by 57.2% during the fourth quarter. Diversified Trust Co now owns 25,486 shares of the company’s stock valued at $97,000 after acquiring an additional 9,272 shares during the last quarter. JPMorgan Chase & Co. boosted 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 in the last quarter. Principal Financial Group Inc. bought a new position in shares of Petco Health and Wellness during the 3rd quarter valued at $728,000. Franklin Resources Inc. raised its position in Petco Health and Wellness by 362.3% in the 3rd quarter. Franklin Resources Inc. now owns 64,850 shares of the company’s stock worth $305,000 after purchasing an additional 50,821 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Petco Health and Wellness in the third quarter worth $66,000.

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.