Pets at Home Group (LON:PETS) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Pets at Home Group Plc (LON:PETS) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 211.66 and traded as high as GBX 214.80. Pets at Home Group shares last traded at GBX 212.76, with a volume of 628,243 shares.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 230 price target on shares of Pets at Home Group in a research note on Friday, July 31st. Shore Capital Group initiated coverage on Pets at Home Group in a report on Thursday, September 3rd. They set a “buy” rating and a GBX 265 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 265 target price on shares of Pets at Home Group in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 251.25.

Pets at Home Group Price Performance

The firm has a market cap of £963.48 million, a price-to-earnings ratio of 16.43, a PEG ratio of 2.66 and a beta of 1.11. The company’s fifty day moving average is GBX 211.88 and its 200 day moving average is GBX 195.99. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 40.77.

Pets at Home Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 24th that allows the company to buy back 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Share buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Pets at Home Group

In other Pets at Home Group news, insider Natalie `Jane acquired 2,525 shares of Pets at Home Group stock in a transaction dated Monday, July 20th. The stock was bought at an average cost of GBX 198 per share, for a total transaction of £4,999.50. 3.39% of the stock is currently owned by corporate insiders.

Pets at Home Group Company Profile

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.