HSBC Downgrades United Utilities Group (LON:UU) to Reduce

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United Utilities Group (LON:UU) was downgraded by stock analysts at HSBC to a “reduce” rating in a report released on Friday, ThisIsMoney.Co.Uk reports. They presently have a GBX 760 ($9.93) target price on the stock, down from their previous target price of GBX 860 ($11.24). HSBC’s target price would suggest a potential downside of 8.37% from the company’s previous close.

A number of other research analysts also recently issued reports on UU. Deutsche Bank upgraded United Utilities Group to a “buy” rating and increased their price objective for the stock from GBX 820 ($10.71) to GBX 850 ($11.11) in a report on Tuesday, July 23rd. Royal Bank of Canada downgraded United Utilities Group to a “sector perform” rating and decreased their price objective for the stock from GBX 950 ($12.41) to GBX 850 ($11.11) in a report on Friday, September 6th. Barclays reiterated an “equal weight” rating on shares of United Utilities Group in a report on Wednesday, October 16th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 900 ($11.76) price objective on shares of United Utilities Group in a report on Thursday, September 5th. Finally, Jefferies Financial Group downgraded United Utilities Group to an “underperform” rating and decreased their price objective for the stock from GBX 870 ($11.37) to GBX 660 ($8.62) in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of GBX 855.50 ($11.18).

Shares of United Utilities Group stock traded down GBX 3.40 ($0.04) during trading hours on Friday, hitting GBX 829.40 ($10.84). The company’s stock had a trading volume of 1,860,319 shares, compared to its average volume of 2,840,000. United Utilities Group has a 12 month low of GBX 713 ($9.32) and a 12 month high of GBX 895.60 ($11.70). The stock has a 50 day moving average of GBX 838.26 and a 200 day moving average of GBX 807.30. The company has a market capitalization of $5.66 billion and a PE ratio of 15.59. The company has a debt-to-equity ratio of 251.25, a current ratio of 0.69 and a quick ratio of 0.58.

In related news, insider Steven L. Mogford sold 41,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of GBX 770 ($10.06), for a total transaction of £315,700 ($412,517.97). Also, insider Russ Houlden sold 7,300 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of GBX 778 ($10.17), for a total value of £56,794 ($74,211.42).

About United Utilities Group

United Utilities Group PLC provides water and wastewater services in the United Kingdom. It is also involved in renewable energy generation, corporate trustee, financing, and property management activities; and the provision of consulting and project management services. The company operates 42,000 kilometers (km) of water pipes; 77,000 km of wastewater pipes; 568 wastewater treatment works; and 88 water treatment works.

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Analyst Recommendations for United Utilities Group (LON:UU)

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