Pets at Home Group (LON:PETS) Stock Price Down 16.7% Following Analyst Downgrade

Pets at Home Group Plc (LON:PETS) shares dropped 16.7% during mid-day trading on Friday 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 190.20 ($2.56). Approximately 9,942,952 shares traded hands during trading, an increase of 311% from the average daily volume of 2,418,653 shares. The stock had previously closed at GBX 228.40 ($3.08).

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

Pets at Home Group Stock Performance

The stock has a market capitalization of £866.85 million, a price-to-earnings ratio of 1,025.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. The firm has a fifty day moving average of GBX 229.57 and a 200 day moving average of GBX 239.76. The company has a debt-to-equity ratio of 43.13, a current ratio of 0.63 and a quick ratio of 0.57.

Pets at Home Group declared that its board has authorized a stock repurchase plan on Monday, June 9th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication 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.