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 equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Wednesday, Digital Look reports. They presently have a GBX 380 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 17.65% from the stock’s previous close.

A number of other brokerages have also issued reports on PNN. Deutsche Bank Aktiengesellschaft lowered shares of Pennon Group to a “hold” rating and decreased their target price for the stock from GBX 550 to GBX 380 in a research report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 575 price objective on shares of Pennon Group in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 1,255.71.

Pennon Group Stock Performance

Pennon Group stock traded up GBX 1.80 during midday trading on Wednesday, reaching GBX 323. 5,763,578 shares of the company’s stock were exchanged, compared to its average volume of 12,794,170. The stock’s 50-day simple moving average is GBX 445.28 and its 200 day simple 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. The firm has a market cap of £1.52 billion, a price-to-earnings ratio of 16.74, a P/E/G 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.

Insider Activity

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of GBX 493, for a total transaction of £5,516.67. In the last ninety days, insiders have purchased 96 shares of company stock worth $44,883. 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.