Peel Hunt Reaffirms Hold Rating for Polypipe Group PLC (PLP)
Polypipe Group PLC (LON:PLP)‘s stock had its “hold” rating restated by equities research analysts at Peel Hunt in a note issued to investors on Tuesday. They presently have a GBX 350 ($4.27) target price on the stock. Peel Hunt’s price objective would indicate a potential upside of 33.64% from the stock’s current price.
A number of other brokerages have also recently issued reports on PLP. Deutsche Bank AG restated a “buy” rating on shares of Polypipe Group PLC in a report on Wednesday, September 7th. Numis Securities Ltd restated a “buy” rating and set a GBX 370 ($4.51) target price on shares of Polypipe Group PLC in a report on Tuesday, August 16th. Berenberg Bank reduced their target price on Polypipe Group PLC from GBX 395 ($4.81) to GBX 360 ($4.39) and set a “buy” rating on the stock in a report on Wednesday, August 17th. Finally, Jefferies Group reduced their target price on Polypipe Group PLC from GBX 350 ($4.27) to GBX 240 ($2.93) and set a “hold” rating on the stock in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Polypipe Group PLC presently has an average rating of “Buy” and a consensus price target of GBX 336.20 ($4.10).
Polypipe Group PLC (LON:PLP) opened at 261.90 on Tuesday. The company has a 50-day moving average price of GBX 281.44 and a 200-day moving average price of GBX 284.01. Polypipe Group PLC has a 12-month low of GBX 217.00 and a 12-month high of GBX 360.00. The firm’s market cap is GBX 521.90 million.
The firm also recently disclosed a dividend, which was paid on Friday, September 23rd. Stockholders of record on Thursday, August 25th were issued a dividend of GBX 3.10 ($0.04) per share. This represents a dividend yield of 1.11%. The ex-dividend date was Thursday, August 25th.
In other Polypipe Group PLC news, insider Marsh,Ron acquired 75,000 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were acquired at an average price of GBX 279 ($3.40) per share, for a total transaction of £209,250 ($255,027.42).
About Polypipe Group PLC
Polypipe Group plc is a United Kingdom-based manufacturer of plastic piping systems for the residential, commercial, civil and infrastructure sectors. The Company’s segments include Residential Piping Systems, Commercial and Infrastructure Piping Systems (UK), and Commercial and Infrastructure (Mainland Europe).
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