Petco Health and Wellness (NASDAQ:WOOF) Price Target Lowered to $4.00 at Royal Bank of Canada

Petco Health and Wellness (NASDAQ:WOOF) had its target price dropped by Royal Bank of Canada from $6.00 to $4.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 21.03% from the company’s previous close.

Several other research firms have also recently weighed in on WOOF. 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 report on Tuesday, January 21st. Citigroup lowered their price target on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company increased their price objective on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Robert W. Baird lowered their target price on Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wedbush reduced their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.80.

Petco Health and Wellness Price Performance

Shares of WOOF traded up $0.87 during midday trading on Thursday, reaching $3.31. The stock had a trading volume of 14,786,972 shares, compared to its average volume of 4,385,174. 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 company has a market capitalization of $1.04 billion, a P/E ratio of -8.18 and a beta of 1.92. The firm’s 50 day moving average price is $2.99 and its 200-day moving average price is $3.92. Petco Health and Wellness has a 52 week low of $1.41 and a 52 week high of $6.29.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new position in Petco Health and Wellness during the fourth quarter worth $25,000. Scotia Capital Inc. acquired a new position in shares of Petco Health and Wellness during the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Petco Health and Wellness by 253.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock valued at $51,000 after acquiring an additional 8,056 shares during the last quarter. Blueprint Investment Partners LLC bought a new position in shares of Petco Health and Wellness in the 4th quarter valued at approximately $44,000. Finally, New York State Common Retirement Fund lifted 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 purchasing an additional 3,711 shares during the last quarter.

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.