Petco Health and Wellness (NASDAQ:WOOF) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Petco shares rose above their 200-day moving average, reaching $2.98 and last trading at $2.96, up 1.7%. The stock’s 50-day and 200-day moving averages were $2.72 and $2.74, respectively.
• Analyst sentiment remains mixed but leans toward “Hold”: two analysts rate the stock Buy, eight Hold and one Sell, with an average price target of $3.88.
• Insider activity was negative, with an executive selling 200,000 shares for $508,000; insiders sold 450,000 shares worth $1.15 million over the past 90 days.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.74 and traded as high as $2.98. Petco Health and Wellness shares last traded at $2.96, with a volume of 1,581,828 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WOOF shares. Weiss Ratings reissued a "sell (d)" rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. Citigroup lowered their target price on Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, June 4th. Zacks Research downgraded shares of Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, The Goldman Sachs Group downgraded shares of Petco Health and Wellness from a "buy" rating to a "neutral" rating and set a $3.83 price objective for the company. in a report on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $3.88.

Petco Health and Wellness Stock Up 1.7%

The stock has a fifty day moving average price of $2.72 and a 200 day moving average price of $2.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.29. The stock has a market capitalization of $957.15 million, a P/E ratio of 148.07, a price-to-earnings-growth ratio of 3.38 and a beta of 1.54.

Insider Transactions at Petco Health and Wellness

In other Petco Health and Wellness news, insider Holly May sold 200,000 shares of the firm's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $2.54, for a total value of $508,000.00. Following the completion of the transaction, the insider owned 1,327,867 shares in the company, valued at $3,372,782.18. This trade represents a 13.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 450,000 shares of company stock worth $1,145,500. Corporate insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Petco Health and Wellness by 6.7% in the first quarter. Bank of America Corp DE now owns 269,589 shares of the company's stock valued at $749,000 after acquiring an additional 16,825 shares during the period. Amundi bought a new stake in Petco Health and Wellness during the 1st quarter worth approximately $54,000. Renaissance Technologies LLC purchased a new stake in Petco Health and Wellness in the 1st quarter worth approximately $1,455,000. Arrowstreet Capital Limited Partnership purchased a new stake in Petco Health and Wellness in the 1st quarter worth approximately $527,000. Finally, Sei Investments Co. boosted its holdings in Petco Health and Wellness by 36.3% in the 1st quarter. Sei Investments Co. now owns 149,391 shares of the company's stock valued at $415,000 after purchasing an additional 39,762 shares during the period.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc NASDAQ: WOOF is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.

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