Pennon Group (LON:PNN) Hits New 1-Year Low on Analyst Downgrade

Pennon Group Plc (LON:PNN) hit a new 52-week low during mid-day trading on Tuesday after Deutsche Bank Aktiengesellschaft downgraded the stock to a hold rating. Deutsche Bank Aktiengesellschaft now has a GBX 380 price target on the stock, down from their previous price target of GBX 550. Pennon Group traded as low as GBX 311.20 and last traded at GBX 323, with a volume of 3,815,871 shares changing hands. The stock had previously closed at GBX 357.

PNN has been the topic of several other research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 500 price target on shares of Pennon Group in a research report on Thursday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 575 price objective on shares of Pennon Group in a report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,272.86.

Insider Transactions at Pennon Group

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of GBX 493, for a total transaction of £5,516.67. Over the last quarter, insiders have acquired 96 shares of company stock worth $44,883. Company insiders own 0.32% of the company’s stock.

Pennon Group Stock Performance

The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81. The stock has a fifty day moving average of GBX 447.96 and a 200-day moving average of GBX 484.87. The stock has a market cap of £1.52 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 8.20 and a beta of 0.57.

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.