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

Pets at Home Group (LON:PETS) declared that its Board of Directors has approved a stock repurchase program on Monday, June 9th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Pets at Home Group Price Performance

LON:PETS opened at GBX 260.31 ($3.53) on Tuesday. The firm has a market cap of £1.19 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. The stock has a 50 day moving average of GBX 243.12 and a two-hundred day 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 company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 43.13.

Pets at Home Group (LON:PETS) last released 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 expect that Pets at Home Group will post 22.67844 earnings per share for the current fiscal year.

Insider Buying and Selling at Pets at Home Group

In other news, insider Lyssa McGowan sold 80,878 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of GBX 266 ($3.60), for a total value of £215,135.48 ($291,551.00). Also, insider Michael Iddon sold 42,879 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of GBX 266 ($3.60), for a total transaction of £114,058.14 ($154,571.27). 1.80% of the stock is owned by corporate insiders.

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.