Petco Health and Wellness (NASDAQ:WOOF) Shares Gap Up – Still a Buy?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $2.44, but opened at $2.93. Petco Health and Wellness shares last traded at $3.28, with a volume of 8,535,383 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush lowered their price target on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price target on shares of Petco Health and Wellness in a report on Friday, December 20th. Morgan Stanley lowered their price objective on shares of 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, Robert W. Baird cut their target price on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Petco Health and Wellness has a consensus rating of “Hold” and an average price target of $4.00.

Petco Health and Wellness Price Performance

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -8.36 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. The stock’s 50 day simple moving average is $2.99 and its two-hundred day simple moving average is $3.92.

Institutional Trading of Petco Health and Wellness

Several institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in Petco Health and Wellness by 40.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company’s stock worth $60,000 after purchasing an additional 4,526 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Petco Health and Wellness in the 4th quarter worth approximately $61,000. Polar Asset Management Partners Inc. bought a new position in shares of Petco Health and Wellness during the 4th quarter worth approximately $1,450,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Petco Health and Wellness by 3.5% in the fourth 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 acquiring an additional 11,202 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in Petco Health and Wellness during the fourth quarter worth $1,290,000.

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.