Pennon Group (LON:PNN) Hits New 12-Month Low – Here’s Why

Pennon Group Plc (LON:PNN)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as GBX 440 and last traded at GBX 440.40, with a volume of 432996 shares changing hands. The stock had previously closed at GBX 444.20.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup decreased their price objective on Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating on the stock in a research report on Thursday, June 11th. UBS Group reissued a “buy” rating and set a GBX 650 target price on shares of Pennon Group in a research report on Friday, June 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 575 price objective on shares of Pennon Group in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Pennon Group from GBX 620 to GBX 550 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group dropped their price target on shares of Pennon Group from GBX 590 to GBX 500 and set a “hold” rating for the company in a research note on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 1,297.14.

Pennon Group Stock Performance

The firm has a 50 day moving average of GBX 467 and a 200-day moving average of GBX 501.24. The company has a market cap of £2.14 billion, a P/E ratio of 23.51, a PEG ratio of 8.20 and a beta of 0.57. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81.

Insider Buying and Selling at Pennon Group

In other news, insider Laura Flowerdew sold 1,119 shares of the 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. Over the last three months, insiders have purchased 95 shares of company stock valued at $44,685. 0.32% of the stock is currently owned by corporate 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.