Pennon Group’s (PNN) Buy Rating Reiterated at Jefferies Financial Group

Pennon Group (LON:PNN)‘s stock had its “buy” rating restated by investment analysts at Jefferies Financial Group in a research note issued to investors on Wednesday, Digital Look reports. They presently have a GBX 380 price target on the stock. Jefferies Financial Group’s target price indicates a potential upside of 17.72% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Pennon Group to a “hold” rating and cut their price objective for the stock from GBX 550 to GBX 380 in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 575 target price on shares of Pennon Group in a research report on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 1,353.33.

Pennon Group Stock Performance

PNN traded down GBX 2.40 on Wednesday, reaching GBX 322.80. The company had a trading volume of 4,166,003 shares, compared to its average volume of 12,716,599. Pennon Group has a fifty-two week low of GBX 311.20 and a fifty-two week high of GBX 605. The stock has a market cap of £1.52 billion, a P/E ratio of 16.73, a P/E/G ratio of 8.20 and a beta of 0.57. The company’s fifty day moving average is GBX 442.42 and its 200 day moving average is GBX 482.11. The company has a debt-to-equity ratio of 347.81, a quick ratio of 1.53 and a current ratio of 1.51.

Insiders Place Their Bets

In other news, insider Laura Flowerdew sold 1,119 shares of Pennon Group stock in a transaction on Monday, July 20th. The stock was sold at an average price of GBX 493, for a total transaction of £5,516.67. In the last quarter, insiders acquired 96 shares of company stock worth $44,883. 0.32% of the stock is owned by company insiders.

Pennon Group Company Profile

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.