nk1999
27 Jun 2017
Liberum I don't agree, but for info from Citywire:"Pets At Home too risky for the price, says Liberum Shares in Pets At Home (PETSP) may have fallen by a third since July last year but they’re still not cheap enough for the current risk profile, says Liberum.Analyst Adam Tomlinson reiterated his ‘sell’ recommendation and target price of 145p on the shares as he said the ‘downgrade cycle has accelerated’.Shares were trading down 0.6%, or 1p, at 160p at the time of writing. ‘Since we downgraded to ‘sell’ in July 2016, Pets’ shares have fallen 33%. The story has evolved as we expected, with significant price investment into its food/accessories offering now required to establish its competitiveness,’ he said. The shares now trade on a price/earnings ratio of 12.2x, which Tomlinson does ‘not see as cheap enough for Pets’ current risk profile’. "I am holding, and hoping for slow upwards movement.nk
Thedarkkn1ght
19 Jun 2017
P/E 10 P/E 10 ultra low II's increasing stakes hereLots of buys going throughDirectors buying tooRe-rating well overdue
Thedarkkn1ght
09 Jun 2017
No 'hard' brexit coming If at all.
Thedarkkn1ght
08 Jun 2017
Ex-dividend 15th June 5 pence per share4 days left to buy
Blanketstacker
05 Jun 2017
Re: Another Director Buys ...and yet more reported today! The figures here are pretty unremarkable for a large bricks and mortar retailer
ER = 12PEG = 1.7Gearing = 20%But the forecast EPS is 13.6 and the yield now c5% (covered x1.9). Turnover has increased year on year for five years, as has EBITDA. The price is almost at an all-time low.I read an article on recent IPOs a little while back. It cited PETS as a particularly poor value one, but we are now at a c40% discount to the launch price.As for the business itself, the veterinary side is advancing well and the sales of merchandise continue to have an astronomical margin.I remember a few years ago listening to a talk about the ridiculous nature of the dotcom bubble, and how it was inflated by the gases given off by on-line retailers. "My god" the man said "people even expected to make a million selling cat food on the internet!" Well that hasn't happened, and it won't. That leaves a gap for PETS and its counterparts.
winningstreak
31 May 2017
Re: Another Director Buys These are not token buys, they are serious investment buys. Plenty othershares on the market to choose from, but clearly they consider PETS bestfor their money.ws
turkey10
30 May 2017
Another Director Buys A second director has bought 61,000 shares.
nk1999
30 May 2017
Re: Director buys shares Two directors actually.
turkey10
30 May 2017
Director buys shares A Director has bought 30,000 shares. Very positive news for the share recovery. Also large fund holders have been buying. Back to 200p.
nk1999
27 May 2017
HL view "The theory behind the Pets at Home growth story is simple. It is the market leader in a resilient and growing market, and its stores are slicker and larger than independent rivals. This means that the group should be able to hoover up business just by rolling out stores to new locations. Once stores are open, additional services like grooming and vet practices can be tacked on, driving footfall up and raising the likelihood of repeat custom. The catch is that growth is slowing.The group could be finding that expansion is cannibalising sales in existing stores. If it's already bumping up against the sides of the tank with not many more than 400 stores, its longer-term target of 500 might be more ambitious than it first thought.Another possible explanation is that customers are migrating to online retailers. In the big bad world of the internet, Pets is by no means a big fish and online competitors are much more dangerous than the independent stores the group has made light work of. May's full year results showed this side of the market is growing at an accelerating rate.Pets has reacted to falling sales growth by reducing prices, and the early indications are that customers have responded well. It might not be good news for margins, but it seems the right thing to do. After all, you need the customers coming through the door in the first place if you are to effectively cross-sell additional services.Nonetheless, we still feel there is more Pets could do. Yes, improvements are being made to the website, but if it is serious about competing in this sphere, Pets needs to up its game.Despite the hit to margins, Pets is still a cash-generative business, so the prospective yield of 5.2% looks well underpinned for now. The question is whether the payout can be maintained or grown over the longer-term. Reflecting the current challenges, the shares trade on 10.6 times expected earnings, well below the average since listing in 2014."
Thedarkkn1ght
26 May 2017
Takeover, takeover Takeover highly probable at these prices and given the asset base and solid balance sheet.Rock bottom share price at an all time low.
nk1999
26 May 2017
Liberum Being too bearish, I believe. Anyway, from Citywire:"Problems on the horizon for Pets At Home, says Liberum Liberum’s new forecasts for Pets At Home (PETSP) are more bearish due to ‘structural pressures’ faced by the retailer. Analyst Adam Tomlinson reiterated his ‘sell’ recommendation and cut the target price from 160p to 145p after full-year 2017 results.‘The outlook remains challenging and we expect material downgrades to consensus,’ he said. ‘Heavy promoting in merchandise has seen some top line improvement...However, this comes with a significant negative gross margin impact, with management now guiding to a 1%-2% decline in full-year 2018.’Tomlinson predicted full-year 2018 profit before tax of £85 million, representing a 10% downgrade.‘Our new forecasts are more bearish. We don’t see anything in [the full-year] statement to change our view on Pets At Home, where we see significant structural pressures persisting.’At the time of writing the shares were trading up 2.6%, or 4p, at 164p."
Thedarkkn1ght
25 May 2017
Director buys Closed period now over.Broker upgrades.
Thedarkkn1ght
25 May 2017
200p by 15th June As the shorts close and the ex-dividend date approaches in the coming days SP will be around 190-200p and then up to 250p by mid summer.String of broker upgrades to followThis company was wrongly targeted by shorters and brokers.
Spain Fund
25 May 2017
Pets at Home FY sales lifted by vet practices Michele MaatoukDate: Thursday 25 May 2017LONDON (ShareCast) - (ShareCast News) - Pets at Home posted a jump in sales for the year to 30 March, helped in part by a solid contribution from its vet practices and new openings.Group revenue was up 7.2% from the comparable period a year ago to £834.2m, with like-for-like sales up 1.5% and total income from the joint venture vet practices up 24.6% to £47.1m.Statutory pre-tax profit was up 5.8% to £95.4m, while profit before tax and exceptional items related to acquisitions and disposals edged up 1.1% to £96.4m. Merchandise like-for-like sales were up 0.8%, while sales in Services grew 7.9%.Meanwhile, the company delivered on its rollout targets for the year, opening 15 new superstores, 50 vet practices and 50 grooming salons.Chief executive officer Ian Kellett said: "We are uniquely positioned as the only UK pet business delivering an integrated omnichannel and services offer, supported by our fast growing Vet Group, market leading private labels and expert colleagues. In an evolving consumer environment, we are taking steps to reposition prices on own label Advanced Nutrition and pet essentials and have made some initial changes to branded food lines."Encouraged by the reaction of our customers and having seen an improvement in Merchandise LFL to 1.0% in the 16 weeks since launch, we will move swiftly to deliver even better value. We are confident this is the right path for success and will give us a strong platform for sustainable future growth."Numis said pre-tax profit of £96.4m is slightly ahead of its estimate of £96.2m and consensus of £95.9m."Despite the near-term challenges facing the business, we see the moves to address its price position as significant, enabling the business to get back on the front foot. We believe the scale, quality and visibility of Pets at Home's long term growth opportunity should support a higher valuation, and move our recommendation from add to buy," Numis said.At 0938 BST, the shares were up 2.7% to 164.90p.
