Pets at Home Group (LON:PETS) Announces Stock Repurchase Plan

Pets at Home Group (LON:PETS) declared that its Board of Directors has approved a share repurchase program on Monday, June 9th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Pets at Home Group Stock Up 0.6%

Shares of Pets at Home Group stock opened at GBX 263.68 ($3.57) on Thursday. The business’s 50 day simple moving average is GBX 244.67 and its 200-day simple moving average is GBX 231.35. Pets at Home Group has a twelve month low of GBX 193.90 ($2.63) and a twelve month high of GBX 319 ($4.32). The stock has a market capitalization of £1.20 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.66 and a beta of 0.69. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 43.13.

Pets at Home Group (LON:PETS) last posted its quarterly earnings data on Wednesday, May 28th. The company reported GBX 21 ($0.28) EPS for the quarter. Pets at Home Group had a net margin of 5.36% and a return on equity of 8.05%. Equities research analysts forecast that Pets at Home Group will post 22.67844 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PETS. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 300 ($4.07) price target on shares of Pets at Home Group in a report on Thursday, May 29th. Shore Capital reiterated a “not rated” rating on shares of Pets at Home Group in a research note on Monday, March 31st. Finally, Berenberg Bank reduced their price objective on shares of Pets at Home Group from GBX 290 ($3.93) to GBX 245 ($3.32) and set a “hold” rating on the stock in a research note on Tuesday, April 1st.

Insider Activity at Pets at Home Group

In related news, insider Lyssa McGowan sold 80,878 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of GBX 266 ($3.61), for a total value of £215,135.48 ($291,630.04). Also, insider Michael Iddon sold 42,879 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of GBX 266 ($3.61), for a total transaction of £114,058.14 ($154,613.18). 1.80% of the stock is 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.