Pennon Group (LON:PNN) Stock Rating Reaffirmed as Buy by Jefferies Financial Group

Pennon Group (LON:PNN)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday, Digital Look reports. They currently have a GBX 380 target price on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.09% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 575 price objective on shares of Pennon Group in a research note on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft cut Pennon Group to a “hold” rating and decreased their target price for the stock from GBX 550 to GBX 380 in a report on Monday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Pennon Group has an average rating of “Moderate Buy” and an average target price of GBX 1,255.71.

Pennon Group Price Performance

Shares of LON PNN traded down GBX 1.20 during trading on Wednesday, hitting GBX 321.80. The company had a trading volume of 304,394,469 shares, compared to its average volume of 14,252,163. The company has a market cap of £1.52 billion, a P/E ratio of 16.67, a PEG ratio of 8.20 and a beta of 0.57. Pennon Group has a 52 week low of GBX 311.20 and a 52 week high of GBX 605. The business’s 50-day moving average is GBX 445.28 and its 200 day moving average is GBX 483.48. The company has a debt-to-equity ratio of 347.81, a quick ratio of 1.53 and a current ratio of 1.51.

Insider Activity at Pennon Group

In other news, insider Laura Flowerdew sold 1,119 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of GBX 493, for a total transaction of £5,516.67. Insiders have bought 96 shares of company stock valued at $44,883 in the last ninety days. Company 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.