Stock Buyback Plan Authorized by Pets at Home Group (LON:PETS)

Pets at Home Group (LON:PETS) declared that its Board of Directors has approved a stock buyback program on Monday, June 9th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PETS shares. Shore Capital reissued a “not rated” rating on shares of Pets at Home Group in a report on Monday, March 31st. Canaccord Genuity Group reissued a “buy” rating and set a GBX 300 ($4.07) price objective on shares of Pets at Home Group in a report on Thursday, May 29th. Finally, Berenberg Bank lowered their price target on Pets at Home Group from GBX 290 ($3.93) to GBX 245 ($3.32) and set a “hold” rating on the stock in a research report on Tuesday, April 1st.

Pets at Home Group Trading Up 0.3%

Shares of LON PETS traded up GBX 0.70 ($0.01) during trading hours on Monday, hitting GBX 260.31 ($3.53). The company’s stock had a trading volume of 621,711 shares, compared to its average volume of 2,990,007. The business has a 50-day simple moving average of GBX 243.12 and a 200-day simple moving average of GBX 231.60. Pets at Home Group has a 12 month low of GBX 193.90 ($2.63) and a 12 month high of GBX 319 ($4.32). The stock has a market cap of £1.19 billion, a price-to-earnings ratio of 15.82, 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 (LON:PETS) last announced its quarterly earnings results on Wednesday, May 28th. The company reported GBX 21 ($0.28) EPS for the quarter. Pets at Home Group had a return on equity of 8.05% and a net margin of 5.36%. On average, analysts anticipate that Pets at Home Group will post 22.67844 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Iddon sold 42,879 shares of Pets at Home Group stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of GBX 266 ($3.60), for a total transaction of £114,058.14 ($154,571.27). Also, insider Lyssa McGowan sold 80,878 shares of Pets at Home Group stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of GBX 266 ($3.60), for a total transaction of £215,135.48 ($291,551.00). 1.80% of the stock is currently owned by 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.