Pennon Group Plc (LON:PNN) Stock Has Consensus Target Price of GBX 1,297.14

Pennon Group Plc (LON:PNN) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is GBX 1,297.14.

A number of brokerages have issued reports on PNN. Deutsche Bank Aktiengesellschaft reduced their price objective 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. UBS Group reiterated a “buy” rating and set a GBX 650 target price on shares of Pennon Group in a research note on Friday, June 5th. Citigroup cut their price target 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 reduced 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 report on Monday, August 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 575 price objective on shares of Pennon Group in a report on Tuesday, August 25th.

Insiders Place Their Bets

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. Insiders have bought 96 shares of company stock valued at $44,883 in the last 90 days. 0.32% of the stock is owned by insiders.

Pennon Group Stock Performance

Shares of Pennon Group stock opened at GBX 458.80 on Friday. The company has a market cap of £2.16 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 8.20 and a beta of 0.57. Pennon Group has a 52 week low of GBX 435.60 and a 52 week high of GBX 605. The business has a 50 day moving average price of GBX 461.41 and a 200-day moving average price of GBX 494.22. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81.

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.