Berenberg Bank Cuts Pets at Home Group (LON:PETS) Price Target to GBX 220

Pets at Home Group (LON:PETS) had its price objective trimmed by Berenberg Bank from GBX 245 to GBX 220 in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the stock.

PETS has been the subject of several other research reports. Jefferies Financial Group lowered their price target on Pets at Home Group from GBX 330 to GBX 250 and set a “buy” rating for the company in a research report on Tuesday, September 23rd. Canaccord Genuity Group decreased their target price on shares of Pets at Home Group from GBX 285 to GBX 245 and set a “buy” rating for the company in a report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Pets at Home Group from GBX 275 to GBX 215 and set a “buy” rating on the stock in a report on Thursday, September 18th. Finally, Shore Capital reaffirmed a “no recommendation” rating on shares of Pets at Home Group in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 232.50.

Pets at Home Group Price Performance

PETS stock opened at GBX 207.60 on Tuesday. The company has a debt-to-equity ratio of 43.13, a quick ratio of 0.57 and a current ratio of 0.63. The firm has a 50 day moving average price of GBX 222.63 and a 200-day moving average price of GBX 237.75. Pets at Home Group has a 52-week low of GBX 175.50 and a 52-week high of GBX 316.40. The firm has a market capitalization of £933.39 million, a price-to-earnings ratio of 1,104.26, a PEG ratio of 2.66 and a beta of 0.69.

Pets at Home Group announced that its board has initiated a stock repurchase plan on Monday, June 9th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Pets at Home Group

In related news, insider Ian Burke bought 24,793 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of GBX 200 per share, with a total value of £49,586. Corporate insiders own 3.18% of the company’s stock.

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.