Berenberg Bank Cuts Pets at Home Group (LON:PETS) Price Target to GBX 220

Key Points

• Berenberg Bank has reduced the price target for Pets at Home Group from GBX 245 to GBX 220, maintaining a "hold" rating.
• The stock currently has a consensus price target of GBX 232.50, indicating a potential upside of 8.27% based on its previous closing price.
• Pets at Home Group's shares opened at GBX 203.20, marking a 0.9% increase, and have fluctuated between a 12-month low of GBX 175.50 and a high of GBX 316.40.

Pets at Home Group (LON:PETS - Get Free Report) had its price target dropped by stock analysts at Berenberg Bank from GBX 245 to GBX 220 in a research report issued on Tuesday,Digital Look reports. The brokerage currently has a "hold" rating on the stock. Berenberg Bank's price target points to a potential upside of 8.27% from the stock's previous close.

PETS has been the subject of a number of other reports. Shore Capital reaffirmed a "no recommendation" rating on shares of Pets at Home Group in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lowered their price target on Pets at Home Group from GBX 275 to GBX 215 and set a "buy" rating for the company in a report on Thursday, September 18th. Canaccord Genuity Group lowered their price target on Pets at Home Group from GBX 285 to GBX 245 and set a "buy" rating for the company in a report on Monday, September 22nd. Finally, Jefferies Financial Group lowered their price target on Pets at Home Group from GBX 330 to GBX 250 and set a "buy" rating for the company in a report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 232.50.

Pets at Home Group Stock Up 0.9%

Shares of Pets at Home Group stock opened at GBX 203.20 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 43.13. Pets at Home Group has a 12 month low of GBX 175.50 and a 12 month high of GBX 316.40. The business has a fifty day simple moving average of GBX 224.79 and a 200 day simple moving average of GBX 238.39. The stock has a market cap of £913.61 million, a PE ratio of 1,080.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69.

Pets at Home Group declared that its board has authorized a stock repurchase program on Monday, June 9th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

About Pets at Home Group

We are the UK's leading pet care business, providing pet owners with everything they need to be able to look after their pet – from food, toys and bedding, and grooming services, right the way through to first opinion veterinary care. Our stores represent a unique environment and provide a practical, fun and unique experience for pet owners.

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