Pets at Home Group (LON:PETS) Trading Down 15.9% After Analyst Downgrade

Pets at Home Group Plc (LON:PETS) dropped 15.9% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 275 to GBX 215. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Pets at Home Group traded as low as GBX 175.50 ($2.36) and last traded at GBX 192 ($2.59). Approximately 9,022,646 shares were traded during mid-day trading, an increase of 274% from the average daily volume of 2,413,569 shares. The stock had previously closed at GBX 228.40 ($3.08).

PETS has been the subject of several other research reports. Canaccord Genuity Group restated a “buy” rating and issued a GBX 300 target price on shares of Pets at Home Group in a research note on Thursday, May 29th. Shore Capital restated a “no recommendation” rating on shares of Pets at Home Group in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Pets at Home Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 253.33.

Pets at Home Group Stock Down 0.1%

The stock has a 50-day moving average of GBX 229.57 and a two-hundred day moving average of GBX 239.72. The company has a market cap of £866.85 million, a P/E ratio of 1,025.53, a P/E/G ratio of 2.66 and a beta of 0.69. The company has a debt-to-equity ratio of 43.13, a quick ratio of 0.57 and a current ratio of 0.63.

Pets at Home Group announced that its board has authorized a share buyback program on Monday, June 9th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.