Pets at Home Group (LON:PETS) Hits New 12-Month High - Time to Buy?

Key Points

• Pets at Home Group shares reached a new 52-week high, trading as high as GBX 234.40 and closing last at GBX 233, up from the previous close of GBX 223.42.
• Analysts remain bullish: four firms rate the stock “Buy,” with a consensus price target of GBX 251.25; Jefferies and Shore Capital each set targets of GBX 265.
• The company has a market capitalization of approximately £997 million and trades at a P/E ratio of 17.00, while its shares are above both their 50-day and 200-day moving averages.

Pets at Home Group Plc (LON:PETS - Get Free Report) shares reached a new 52-week high during trading on Monday. The stock traded as high as GBX 234.40 and last traded at GBX 233, with a volume of 2,601,163 shares traded. The stock had previously closed at GBX 223.42.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PETS. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 265 price target on shares of Pets at Home Group in a research report on Thursday, July 30th. Shore Capital Group began coverage on shares of Pets at Home Group in a report on Thursday, September 3rd. They issued a "buy" rating and a GBX 265 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 230 price objective on shares of Pets at Home Group in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Pets at Home Group presently has a consensus rating of "Buy" and a consensus price target of GBX 251.25.

Pets at Home Group Stock Performance

The firm has a market capitalization of £997.01 million, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11. The firm's 50 day moving average price is GBX 212.18 and its 200-day moving average price is GBX 196.31. The company has a debt-to-equity ratio of 40.77, a quick ratio of 0.57 and a current ratio of 0.61.

Pets at Home Group announced that its board has approved a share buyback plan on Wednesday, June 24th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board 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. We'll help owners select the right food for their pet with nutrition consultations, help test the water is safe for their fish tank before new fish are introduced, and help socialise a new puppy with socilaisation and training classes - and much more.

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