Pets at Home Group (LON:PETS) Sets New 12-Month Low on 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.

Pets at Home Group Plc (LON:PETS - Get Free Report)'s stock price hit a new 52-week low on Friday after Canaccord Genuity Group lowered their price target on the stock from GBX 285 to GBX 245. Canaccord Genuity Group currently has a buy rating on the stock. Pets at Home Group traded as low as GBX 175.50 ($2.37) and last traded at GBX 190.20 ($2.57), with a volume of 9942952 shares trading hands. The stock had previously closed at GBX 228.40 ($3.09).

Several other equities analysts have also recently weighed in on the company. Shore Capital restated a "no recommendation" rating on shares of Pets at Home Group in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft decreased their target price on Pets at Home Group from GBX 275 to GBX 215 and set a "buy" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 235.

Pets at Home Group Stock Up 2.7%

The stock has a 50-day moving average of GBX 228.65 and a two-hundred day moving average of GBX 239.53. The company has a market cap of £890.14 million, a P/E ratio of 1,053.09, a P/E/G ratio of 2.66 and a beta of 0.69. The company has a debt-to-equity ratio of 43.13, a quick ratio of 0.57 and a current ratio of 0.63.

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