Pets at Home Group (LON:PETS) Reaches New 12-Month High – Still a Buy?

Pets at Home Group Plc (LON:PETS)’s share price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as GBX 234.40 and last traded at GBX 233, with a volume of 2,601,163 shares. The stock had previously closed at GBX 223.42.

Wall Street Analyst Weigh In

A number of brokerages have commented on PETS. Jefferies Financial Group restated a “buy” rating and set a GBX 265 price objective on shares of Pets at Home Group in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 230 target price on shares of Pets at Home Group in a research note on Friday, July 31st. Finally, Shore Capital Group initiated coverage on Pets at Home Group in a report on Thursday, September 3rd. They issued a “buy” rating and a GBX 265 target price on the stock. Four research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 251.25.

Pets at Home Group Stock Down 1.9%

The business’s 50 day simple moving average is GBX 213.12 and its 200-day simple moving average is GBX 197. The company has a market cap of £1.00 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11. 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 declared that its board has authorized a share buyback program on Wednesday, June 24th that authorizes the company to buy back 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board of directors believes its shares are 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. 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.