Travis Perkins (LON:TPK) Given New GBX 650 Price Target at Berenberg Bank

Travis Perkins (LON:TPK) had its target price upped by equities researchers at Berenberg Bank from GBX 580 to GBX 650 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm presently has a “hold” rating on the stock. Berenberg Bank’s price target suggests a potential downside of 4.41% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Peel Hunt reiterated a “buy” rating and set a GBX 660 price target on shares of Travis Perkins in a research report on Tuesday. Jefferies Financial Group lowered their price objective on shares of Travis Perkins from GBX 507 to GBX 464 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. cut their price objective on Travis Perkins from GBX 680 to GBX 630 and set an “overweight” rating on the stock in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Travis Perkins presently has a consensus rating of “Hold” and an average target price of GBX 630.80.

Travis Perkins Stock Performance

LON:TPK opened at GBX 680 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.72 and a debt-to-equity ratio of 59.00. The firm’s fifty day simple moving average is GBX 553.41 and its 200 day simple moving average is GBX 584.87. The stock has a market cap of £1.44 billion, a P/E ratio of -8.16, a price-to-earnings-growth ratio of 6.44 and a beta of 1.28. Travis Perkins has a twelve month low of GBX 493.40 and a twelve month high of GBX 723.50.

Travis Perkins (LON:TPK) last issued its quarterly earnings data on Tuesday, August 4th. The company reported GBX 15.10 EPS for the quarter. Travis Perkins had a negative net margin of 3.86% and a negative return on equity of 9.35%. As a group, research analysts predict that Travis Perkins will post 59.251837 EPS for the current year.

Key Headlines Impacting Travis Perkins

Here are the key news stories impacting Travis Perkins this week:

• Positive Sentiment: First-half profit increased, supported by price increases, cost reductions and operational improvements. Management also reported a stronger balance sheet, improving confidence in the company’s recovery plan. Reuters article
• Positive Sentiment: The results were viewed as signs that Travis Perkins is “moving in the right direction,” with margin and profitability progress helping offset difficult market conditions. Investors’ Chronicle article
• Positive Sentiment: Peel Hunt reaffirmed its Buy rating and set a GBX 660 price target, indicating continued broker support for the turnaround story. Sharecast broker views
• Neutral Sentiment: The company reported quarterly EPS of GBX 15.10. However, its net margin and return on equity remained negative, showing that the recovery is still incomplete. MarketBeat earnings report
• Negative Sentiment: First-half revenue declined and the expected recovery in the core merchanting business has yet to materialize, reflecting continued softness in construction activity. London South East article

About Travis Perkins

Travis Perkins plc engages in distribution of building material products in the United Kingdom. It operates through Merchanting and Toolstation segments. The company offers tools and building supplies. It also distributes pipeline products, as well as supplies managed services, and commercial and industrial heating and cooling solutions. In addition, the company provides in specialist civils and drainage solutions; and air-conditioning and refrigeration products and heat pumps. Further, it provides insulation and interior building products to interior building specialists, contractors, and builders; and kitchens and joinery products.