Pennon Group (LON:PNN) Price Target Raised to GBX 600

Pennon Group (LON:PNN) had its target price upped by Deutsche Bank Aktiengesellschaft from GBX 580 to GBX 600 in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup lowered shares of Pennon Group to a “neutral” rating and lifted their price objective for the company from GBX 539 to GBX 542 in a report on Monday, November 3rd. Barclays reiterated an “overweight” rating and issued a GBX 670 price target on shares of Pennon Group in a report on Thursday, October 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 604.

Pennon Group Stock Down 1.0%

Pennon Group stock opened at GBX 545.50 on Monday. The stock has a fifty day moving average of GBX 527.54 and a 200 day moving average of GBX 503.17. Pennon Group has a one year low of GBX 383 and a one year high of GBX 605.50. The company has a debt-to-equity ratio of 341.72, a quick ratio of 1.54 and a current ratio of 0.97. The stock has a market cap of £2.57 billion, a PE ratio of 113.65, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29.

Pennon Group (LON:PNN) last released its earnings results on Thursday, November 27th. The company reported GBX 14 earnings per share (EPS) for the quarter. Pennon Group had a negative return on equity of 0.88% and a negative net margin of 1.05%. As a group, sell-side analysts predict that Pennon Group will post 1.0402417 EPS for the current year.

Insider Activity at Pennon Group

In other news, insider David Sproul purchased 4,635 shares of the stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average cost of GBX 536 per share, for a total transaction of £24,843.60. Insiders own 0.32% of the company’s stock.

About Pennon Group

At the top end of the FTSE 250, Pennon is an infrastructure group, focused on the UK water market is one of only three listed water companies in the UK. Operating in a stable regulatory environment with a positive outlook, we are focused on long-term sustainable growth, through disciplined capital allocation, organic and acquisitive. Our 25-year rolling licence provides predictable index-linked growth and visibility over future revenues.

We provide clean and wastewater services through our businesses across the Great South West.