Pets at Home Group (LON:PETS) Trading Down 12.2% – Here’s Why

Pets at Home Group Plc (LON:PETS) shares traded down 12.2% during trading on Thursday . The company traded as low as GBX 175.50 ($2.39) and last traded at GBX 200.60 ($2.73). 10,348,098 shares changed hands during mid-day trading, an increase of 327% from the average session volume of 2,420,892 shares. The stock had previously closed at GBX 228.40 ($3.11).

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a GBX 300 price target on shares of Pets at Home Group in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Pets at Home Group from GBX 285 to GBX 275 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, Shore Capital restated a “no recommendation” rating on shares of Pets at Home Group in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pets at Home Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 273.33.

Pets at Home Group Stock Down 12.1%

The stock has a market capitalization of £902.82 million, a P/E ratio of 1,068.09, a PEG ratio of 2.66 and a beta of 0.69. The stock has a 50 day moving average price of GBX 231.69 and a 200-day moving average price of GBX 240.27. 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 declared that its board has initiated a stock repurchase program on Monday, June 9th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors 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.