Berenberg Bank Forecasts Strong Price Appreciation for Travis Perkins (LON:TPK) Stock

Travis Perkins (LON:TPK) had its price target raised by equities researchers at Berenberg Bank from GBX 650 to GBX 670 in a note issued to investors on Thursday, Digital Look reports. The brokerage presently has a “hold” rating on the stock. Berenberg Bank‘s target price would indicate a potential upside of 3.55% from the stock’s previous close.

Several other equities research analysts also recently weighed in on TPK. Deutsche Bank raised their price target on shares of Travis Perkins from GBX 470 to GBX 550 and gave the company a “sell” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 453 price objective on shares of Travis Perkins in a research report on Tuesday, October 13th. JPMorgan Chase & Co. lifted their target price on shares of Travis Perkins from GBX 630 to GBX 710 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 660 price target on shares of Travis Perkins in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Travis Perkins currently has a consensus rating of “Hold” and an average target price of GBX 632.17.

Travis Perkins Price Performance

Shares of TPK opened at GBX 647 on Thursday. Travis Perkins has a fifty-two week low of GBX 493.40 and a fifty-two week high of GBX 723.50. The firm’s 50-day simple moving average is GBX 603.69 and its two-hundred day simple moving average is GBX 593.89. The stock has a market cap of £1.37 billion, a PE ratio of -7.93, a price-to-earnings-growth ratio of 6.44 and a beta of 1.30. The company has a debt-to-equity ratio of 56.92, a quick ratio of 0.84 and a current ratio of 1.66.

Travis Perkins Company Profile

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.