Pets at Home Group (LON:PETS) Shares Pass Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Pets at Home Group Plc shares have fallen below their 200-day moving average, trading as low as GBX 223.80 ($3.04) before closing at GBX 226.19 ($3.07).
• Analysts have differing ratings for the stock, with Deutsche Bank lowering its target price from GBX 285 to GBX 275 while Canaccord Genuity maintains a buy rating with a target of GBX 300.
• The company has authorized a stock buyback plan, indicating that the leadership believes the shares are undervalued.

Shares of Pets at Home Group Plc (LON:PETS - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 240.59 ($3.27) and traded as low as GBX 223.80 ($3.04). Pets at Home Group shares last traded at GBX 226.19 ($3.07), with a volume of 784,532 shares.

Analyst Ratings Changes

PETS has been the subject of a number of analyst 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 decreased their target price on shares of Pets at Home Group from GBX 285 to GBX 275 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 300 target price on shares of Pets at Home Group in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 273.33.

Pets at Home Group Stock Down 1.0%

The company has a market cap of £1.01 billion, a P/E ratio of 1,192.55, 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 current ratio of 0.63 and a quick ratio of 0.57. The company's 50-day moving average is GBX 233.49 and its two-hundred day moving average is GBX 240.59.

Pets at Home Group announced that its Board of Directors has authorized a stock buyback plan on Monday, June 9th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's leadership 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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