Pets at Home Group (LON:PETS) Sets New 1-Year Low Following Analyst Downgrade

Key Points

• Pets at Home Group has reached a new 52-week low, trading as low as GBX 175.50 ($2.38), compared to its previous close of GBX 228.40 ($3.10).
• Analysts have mixed views on the stock, with Canaccord Genuity retaining a "buy" rating and a price target of GBX 300, while Deutsche Bank lowered its target from GBX 285 to GBX 275.
• The company has initiated a share buyback program, which is often taken as a sign that the board perceives the stock to be undervalued.

Shares of Pets at Home Group Plc (LON:PETS - Get Free Report) hit a new 52-week low on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 275 to GBX 215. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Pets at Home Group traded as low as GBX 175.50 ($2.36) and last traded at GBX 190.20 ($2.56), with a volume of 9942952 shares changing hands. The stock had previously closed at GBX 228.40 ($3.08).

A number of other research analysts have also recently weighed in on PETS. Shore Capital reaffirmed a "no recommendation" rating on shares of Pets at Home Group in a research report on Thursday, July 31st. Canaccord Genuity Group reiterated a "buy" rating and set a GBX 300 price objective on shares of Pets at Home Group in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Pets at Home Group currently has an average rating of "Moderate Buy" and a consensus target price of GBX 253.33.

Pets at Home Group Trading Down 0.1%

The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 43.13. The business's 50 day moving average is GBX 229.57 and its 200-day moving average is GBX 239.76. The firm has a market cap of £866.85 million, a P/E ratio of 1,025.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69.

Pets at Home Group declared that its board has approved a share repurchase program on Monday, June 9th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.