Share Buyback Program Announced by Pets at Home Group (LON:PETS) Board of Directors

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price objective on shares of Pets at Home Group in a research report on Wednesday, May 27th. Canaccord Genuity Group reissued a “buy” rating and set a GBX 245 price target on shares of Pets at Home Group in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 230 price objective on shares of Pets at Home Group in a report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 240.

Pets at Home Group Stock Performance

LON:PETS traded up GBX 2.84 during mid-day trading on Wednesday, hitting GBX 174.74. The stock had a trading volume of 50,876,117 shares, compared to its average volume of 9,910,353. Pets at Home Group has a twelve month low of GBX 167.20 and a twelve month high of GBX 270. The stock 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 company’s 50 day simple moving average is GBX 183.98 and its 200 day simple moving average is GBX 194.08. 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 (LON:PETS) last announced its quarterly 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, equities research analysts forecast that Pets at Home Group will post 22.67844 earnings per share for the current 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.