Pennon Group (LON:PNN) Reaches New 52-Week Low – Time to Sell?

Pennon Group Plc (LON:PNN) shares reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as GBX 435.60 and last traded at GBX 444.80, with a volume of 346118 shares changing hands. The stock had previously closed at GBX 445.

Wall Street Analysts Forecast Growth

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

Pennon Group Price Performance

The firm has a 50-day simple moving average of GBX 462.25 and a two-hundred day simple moving average of GBX 494.92. The company has a market capitalization of £2.09 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 8.20 and a beta of 0.57. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 347.81.

Insider Activity at Pennon Group

In related news, insider Laura Flowerdew sold 1,119 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of GBX 493, for a total transaction of £5,516.67. Insiders bought a total of 96 shares of company stock valued at $44,883 in the last quarter. 0.32% of the stock is 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.