Pets at Home Group (LON:PETS) Shares Down 16.7% - Should You Sell?

Key Points

• Pets at Home Group Plc shares fell by 16.7% to as low as GBX 175.50 ($2.38) amid significantly increased trading volume.
• Analysts have set varying price targets for the stock, with Deutsche Bank lowering its target from GBX 285 to GBX 275, while Canaccord Genuity maintains a target of GBX 300.
• The company has initiated a stock buyback plan, indicating confidence that its shares are undervalued despite recent declines.

Pets at Home Group Plc (LON:PETS - Get Free Report)'s stock price dropped 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 traded 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 Upgrades and Downgrades

PETS has been the subject of several research reports. Shore Capital reiterated a "no recommendation" rating on shares of Pets at Home Group in a research note 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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 analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 253.33.

Pets at Home Group Stock Down 0.1%

The firm has a market cap of £866.85 million, a PE ratio of 1,025.53, a PEG ratio of 2.66 and a beta of 0.69. The business's 50 day moving average price is GBX 229.57 and its 200 day moving average price is 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.

Pets at Home Group announced that its board has approved a share repurchase program on Monday, June 9th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership 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.