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

Petco Health and Wellness (NASDAQ:WOOF) had its price target cut by investment analysts at Morgan Stanley from $6.00 to $5.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 32.63% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Wedbush increased their price objective on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Petco Health and Wellness in a research note on Friday, December 20th. StockNews.com raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Petco Health and Wellness presently has a consensus rating of “Hold” and a consensus target price of $4.16.

Petco Health and Wellness Stock Performance

Shares of Petco Health and Wellness stock opened at $3.77 on Tuesday. The firm has a 50 day simple moving average of $4.17 and a 200 day simple moving average of $3.96. The firm has a market cap of $1.18 billion, a P/E ratio of -9.43 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. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. raised its holdings in Petco Health and Wellness by 253.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company’s stock worth $51,000 after acquiring an additional 8,056 shares in the last quarter. Diversified Trust Co lifted its stake in Petco Health and Wellness by 57.2% in 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. Quadrature Capital Ltd bought a new position in shares of Petco Health and Wellness in the 3rd quarter valued at about $58,000. Frank Rimerman Advisors LLC bought a new position in Petco Health and Wellness during the second quarter worth about $50,000. Finally, Sanctuary Advisors LLC acquired a new position in Petco Health and Wellness during the third quarter worth approximately $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.