Pets at Home Executes Share Buyback, Cancels 70,000 Shares

Pets at Home ( (GB:PETS) ) has provided an announcement.

Pets at Home Group Plc announced the purchase of 70,000 of its own ordinary shares as part of a share buyback program. The shares, bought at prices ranging from 257.80 GBp to 263.00 GBp, will be cancelled, reducing the total number of shares in issue to 459,351,054. This move is expected to impact the company’s share capital structure and could influence shareholder value by consolidating ownership.

The most recent analyst rating on (GB:PETS) stock is a Hold with a £2.60 price target. To see the full list of analyst forecasts on Pets at Home stock, see the GB:PETS Stock Forecast page.

Spark’s Take on GB:PETS Stock

According to Spark, TipRanks’ AI Analyst, GB:PETS is a Outperform.

Pets at Home demonstrates strong financial health with stable revenue growth and a solid balance sheet, though profitability and cash flow generation face some pressure. Technical indicators suggest positive momentum, although there may be short-term overbought conditions. An attractive valuation with a low P/E ratio and high dividend yield enhances its investment case.

To see Spark’s full report on GB:PETS stock, click here.

More about Pets at Home

Pets at Home Group Plc operates in the pet care industry, providing products and services for pet owners. The company focuses on retailing pet supplies and offering veterinary services, catering to a broad market of pet enthusiasts.

Average Trading Volume: 1,265,399

Technical Sentiment Signal: Buy

Current Market Cap: £1.18B

For an in-depth examination of PETS stock, go to TipRanks’ Stock Analysis page.