Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 11.1% Following Analyst Downgrade

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

A number of other equities analysts have also recently weighed in on WOOF. Robert W. Baird lowered their price target on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company upped their target price 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. Wedbush dropped their target price on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley dropped their price objective on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.85.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Petco Health and Wellness by 40.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company’s stock worth $60,000 after acquiring an additional 4,526 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Petco Health and Wellness in the 4th quarter valued at about $61,000. Polar Asset Management Partners Inc. acquired a new position in Petco Health and Wellness in the 4th quarter valued at about $1,450,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Petco Health and Wellness by 3.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,615 shares of the company’s stock valued at $1,279,000 after purchasing an additional 11,202 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Petco Health and Wellness during the 4th quarter worth about $1,290,000.

Petco Health and Wellness Trading Down 7.8 %

The business’s fifty day moving average price is $2.97 and its 200 day moving average price is $3.92. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $927.81 million, a PE ratio of -7.40 and a beta of 1.92.

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.