Pets at Home Group (LON:PETS) Stock Passes Below 50-Day Moving Average - Here's What Happened

Pets at Home Group Plc (LON:PETS - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 255.99 ($3.50) and traded as low as GBX 250.60 ($3.42). Pets at Home Group shares last traded at GBX 251.40 ($3.43), with a volume of 619,065 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on PETS. Berenberg Bank decreased their price objective on shares of Pets at Home Group from GBX 290 ($3.96) to GBX 245 ($3.35) and set a "hold" rating for the company in a report on Tuesday, April 1st. Shore Capital reiterated a "not rated" rating on shares of Pets at Home Group in a research report on Monday, March 31st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a GBX 300 ($4.10) price target on shares of Pets at Home Group in a research note on Thursday, May 29th.

Pets at Home Group Stock Performance

The company has a 50 day moving average of GBX 255.99 and a two-hundred day moving average of GBX 233.69. 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 has a market capitalization of £1.15 billion, a PE ratio of 15.33, a PEG ratio of 2.66 and a beta of 0.69.

Pets at Home Group (LON:PETS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported GBX 21 ($0.29) EPS for the quarter. Pets at Home Group had a net margin of 5.36% and a return on equity of 8.05%. As a group, equities research analysts predict that Pets at Home Group Plc will post 22.67844 earnings per share for the current year.

Pets at Home Group announced that its Board of Directors has authorized a share buyback program on Monday, June 9th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Lyssa McGowan sold 80,878 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of GBX 266 ($3.63), for a total value of £215,135.48 ($293,780.53). Also, insider Michael Iddon sold 42,879 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of GBX 266 ($3.63), for a total value of £114,058.14 ($155,753.30). 1.80% of the stock is currently owned by company insiders.

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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