Pets at Home Group (LON:PETS) Shares Down 13.7% – Here’s Why

Pets at Home Group Plc (LON:PETS) dropped 13.7% on Thursday . The company traded as low as GBX 175.50 ($2.39) and last traded at GBX 197.20 ($2.69). Approximately 10,946,981 shares traded hands during trading, an increase of 352% from the average daily volume of 2,424,200 shares. The stock had previously closed at GBX 228.40 ($3.11).

Analyst Ratings Changes

PETS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Pets at Home Group from GBX 285 to GBX 275 and set a “buy” rating for the company in a research note on Friday, August 1st. Shore Capital restated a “no recommendation” rating on shares of Pets at Home Group in a report on Thursday, July 31st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a GBX 300 price target on shares of Pets at Home Group in a report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 273.33.

Pets at Home Group Trading Down 13.7%

The firm has a market capitalization of £886.63 million, a PE ratio of 1,048.94, a PEG ratio of 2.66 and a beta of 0.69. The firm’s fifty day moving average is GBX 231.69 and its two-hundred day moving average is 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 authorized a stock repurchase program on Monday, June 9th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication 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.