Strix Group (LON:KETL) Shares Up 0.6% – Here’s Why

Strix Group Plc (LON:KETL)’s share price rose 0.6% during mid-day trading on Tuesday . The company traded as high as GBX 33.55 and last traded at GBX 33.19. 436,092 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 663,796 shares. The stock had previously closed at GBX 33.

Analysts Set New Price Targets

Separately, Berenberg Bank cut their target price on Strix Group from GBX 70 to GBX 65 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 55.

Strix Group Price Performance

The firm has a market capitalization of £65.63 million, a price-to-earnings ratio of 9.76 and a beta of 0.94. The business has a fifty day moving average of GBX 34.39 and a two-hundred day moving average of GBX 38.15. The company has a debt-to-equity ratio of 6.70, a quick ratio of 1.19 and a current ratio of 2.74.

Strix Group Company Profile

Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix’s core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly.

Strix has built up market leading capability and know-how, expanding into complementary products and technologies.