Credit Suisse Group AG Reiterates Outperform Rating for Travis Perkins plc (TPK)
Travis Perkins plc (LON:TPK)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group AG in a research report issued to clients and investors on Friday. They presently have a GBX 1,950 ($24.13) price objective on the stock. Credit Suisse Group AG’s price target points to a potential upside of 36.46% from the company’s current price.
A number of other research analysts also recently issued reports on TPK. Deutsche Bank AG restated a “buy” rating on shares of Travis Perkins plc in a report on Monday, June 13th. Goldman Sachs Group Inc. restated a “neutral” rating and set a GBX 1,452 ($17.97) price target on shares of Travis Perkins plc in a report on Tuesday, June 28th. Jefferies Group reduced their price target on Travis Perkins plc from GBX 2,390 ($29.58) to GBX 1,760 ($21.78) and set a “buy” rating on the stock in a report on Wednesday, June 29th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 2,400 ($29.70) target price on shares of Travis Perkins plc in a report on Thursday, June 30th. Finally, Berenberg Bank downgraded Travis Perkins plc to a “hold” rating and reduced their target price for the stock from GBX 2,300 ($28.47) to GBX 1,540 ($19.06) in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 1,806.63 ($22.36).
Shares of Travis Perkins plc (LON:TPK) opened at 1429.63 on Friday. The company’s 50 day moving average price is GBX 1,595.94 and its 200-day moving average price is GBX 1,679.24. Travis Perkins plc has a 12 month low of GBX 1,090.00 and a 12 month high of GBX 2,064.00. The stock’s market capitalization is GBX 3.56 billion.
The business also recently disclosed a dividend, which will be paid on Tuesday, November 8th. Stockholders of record on Thursday, October 6th will be paid a GBX 15.25 ($0.19) dividend. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 0.99%.
In related news, insider Ruth Anderson acquired 53 shares of Travis Perkins plc stock in a transaction dated Monday, October 3rd. The stock was purchased at an average cost of GBX 1,564 ($19.36) per share, for a total transaction of £828.92 ($1,025.89). Also, insider Rogers,John acquired 43 shares of Travis Perkins plc stock in a transaction dated Monday, August 1st. The stock was bought at an average price of GBX 1,582 ($19.58) per share, with a total value of £680.26 ($841.91).
About Travis Perkins plc
Travis Perkins plc is a United Kingdom-based product supplier to the building, construction and home improvement markets. The Company operates through segments, which include General Merchanting, Plumbing & Heating, Contracts and Consumer. The General Merchanting segment consists of the Travis Perkins and Benchmarx brands and supplies products for various types of repair, maintenance and improvement projects (RMI), as well as new residential and commercial construction.
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