Travis Perkins (TPK) Downgraded by Berenberg Bank
Berenberg Bank cut shares of Travis Perkins (LON:TPK) to a hold rating in a research note released on Tuesday. Berenberg Bank currently has GBX 1,550 ($21.41) target price on the stock, down from their prior target price of GBX 1,800 ($24.87).
Several other research firms have also recently weighed in on TPK. Deutsche Bank restated a buy rating and issued a GBX 1,760 ($24.32) price objective on shares of Travis Perkins in a research report on Monday, January 29th. Shore Capital restated a hold rating on shares of Travis Perkins in a research report on Wednesday, October 25th. Liberum Capital raised their price objective on shares of Travis Perkins from GBX 1,650 ($22.80) to GBX 1,720 ($23.76) and gave the company a buy rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. cut shares of Travis Perkins to a neutral rating and set a GBX 1,700 ($23.49) price objective for the company. in a research report on Thursday, December 14th. Finally, Peel Hunt restated a hold rating and issued a GBX 1,610 ($22.24) price objective on shares of Travis Perkins in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of GBX 1,680.42 ($23.22).
Travis Perkins (LON TPK) opened at GBX 1,420.51 ($19.63) on Tuesday. Travis Perkins has a 1-year low of GBX 1,396 ($19.29) and a 1-year high of GBX 1,709 ($23.61). The stock has a market cap of $3,580.00 and a PE ratio of 47,350.33.
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About Travis Perkins
Travis Perkins plc is a United Kingdom-based product supplier to the building, construction and home improvement markets. The Company operates through segments, which include General Merchanting, Plumbing & Heating, Contracts and Consumer. The General Merchanting segment consists of the Travis Perkins and Benchmarx brands and supplies products for various types of repair, maintenance and improvement projects (RMI), as well as new residential and commercial construction.
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