Pets at Home Group (LON:PETS) Trading Down 16.7% - What's Next?

Key Points

• Pets at Home Group's shares fell 16.7%, closing at GBX 190.20 ($2.59), a significant decline from the previous close of GBX 228.40 ($3.11).
• Analysts have mixed opinions on the stock, with Deutsche Bank lowering its target price to GBX 275, while Canaccord Genuity maintains a target of GBX 300, indicating interest in potential growth.
• The company has announced a stock repurchase program, suggesting management believes its shares are currently undervalued.

Pets at Home Group Plc (LON:PETS - Get Free Report)'s share price was down 16.7% during trading on Thursday . The stock traded as low as GBX 175.50 ($2.36) and last traded at GBX 190.20 ($2.56). Approximately 9,942,952 shares changed hands during trading, an increase of 311% from the average daily volume of 2,418,653 shares. The stock had previously closed at GBX 228.40 ($3.08).

Analyst Ratings Changes

Several equities analysts have commented on PETS shares. Shore Capital reissued a "no recommendation" rating on shares of Pets at Home Group in a research report on Thursday, July 31st. Canaccord Genuity Group restated a "buy" rating and set a GBX 300 price target on shares of Pets at Home Group in a research note on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Pets at Home Group from GBX 275 to GBX 215 and set a "buy" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pets at Home Group has a consensus rating of "Moderate Buy" and a consensus target price of GBX 253.33.

Pets at Home Group Stock Down 0.1%

The stock has a fifty day moving average price of GBX 229.57 and a 200 day moving average price of GBX 239.72. The company has a debt-to-equity ratio of 43.13, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a market capitalization 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 buyback program on Monday, June 9th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are 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.