Pets at Home Group (LON:PETS) Price Target Lowered to GBX 275 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has lowered its price target for Pets at Home Group from GBX 285 to GBX 275, maintaining a "buy" rating and indicating a potential upside of 25.69% from the stock's previous close.
• Despite the downgrade, other brokerages like Canaccord Genuity have reaffirmed a "buy" rating with a higher target price of GBX 300, suggesting a consensus outlook of a Moderate Buy rating overall.
• The company recently initiated a stock repurchase program, indicating confidence in the undervaluation of its stock, while insiders sold significant shares, raising concerns about their confidence in the company’s performance.

Pets at Home Group (LON:PETS - Get Free Report) had its price objective reduced by research analysts at Deutsche Bank Aktiengesellschaft from GBX 285 ($3.79) to GBX 275 ($3.65) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 23.65% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 300 ($3.99) price target on shares of Pets at Home Group in a research note on Thursday, May 29th. Shore Capital reiterated a "no recommendation" rating on shares of Pets at Home Group in a report on Thursday, July 31st.

Pets at Home Group Stock Down 1.2%

Shares of PETS stock traded down GBX 2.60 ($0.03) during mid-day trading on Friday, reaching GBX 222.40 ($2.96). 866,092 shares of the company were exchanged, compared to its average volume of 2,377,374. Pets at Home Group has a fifty-two week low of GBX 193.90 ($2.58) and a fifty-two week high of GBX 317 ($4.21). The company has a debt-to-equity ratio of 43.13, a quick ratio of 0.57 and a current ratio of 0.63. The company has a market capitalization of £1.01 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.66 and a beta of 0.69. The business's 50 day simple moving average is GBX 254.16 and its 200 day simple moving average is GBX 239.24.

Pets at Home Group (LON:PETS - Get Free Report) last posted its earnings results on Wednesday, May 28th. The company reported GBX 21 ($0.28) earnings per share (EPS) for the quarter. Pets at Home Group had a return on equity of 8.05% and a net margin of 5.36%. Research analysts predict that Pets at Home Group will post 22.67844 earnings per share for the current year.

Pets at Home Group declared that its board has initiated a stock repurchase plan on Monday, June 9th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Michael Iddon sold 42,879 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of GBX 266 ($3.54), for a total transaction of £114,058.14 ($151,592.42). Also, insider Lyssa McGowan sold 80,878 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of GBX 266 ($3.54), for a total value of £215,135.48 ($285,932.32). 1.80% of the stock is owned by company insiders.

Pets at Home Group Company Profile

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.