Pets at Home Group (LON:PETS) to Buyback 0 Stock

Pets at Home Group (LON:PETS) declared that its board has approved a stock buyback plan on Wednesday, June 24th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently commented on PETS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 230 price target on shares of Pets at Home Group in a research report on Thursday, May 28th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 245 price objective on shares of Pets at Home Group in a report on Thursday, May 28th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 265 target price on shares of Pets at Home Group in a research report on Wednesday, May 27th. Three 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 240.

Pets at Home Group Price Performance

Shares of LON PETS traded up GBX 2.84 during mid-day trading on Wednesday, reaching GBX 174.74. The company had a trading volume of 50,876,117 shares, compared to its average volume of 9,910,353. 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 has a one year low of GBX 167.20 and a one year high of GBX 270. The firm has a market cap of £772.83 million, a price-to-earnings ratio of 12.85, a PEG ratio of 2.66 and a beta of 1.08. The business’s 50-day simple moving average is GBX 183.98 and its 200 day simple moving average is GBX 194.08.

Pets at Home Group (LON:PETS) last issued its earnings results on Wednesday, May 27th. The company reported GBX 14.80 earnings per share for the quarter. Pets at Home Group had a return on equity of 6.50% and a net margin of 4.29%.The firm had revenue of GBX 146.96 billion for the quarter. On average, research analysts predict that Pets at Home Group will post 22.67844 earnings per share for the current fiscal year.

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.