Pennon Group (LON:PNN) Given Buy Rating at Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Buy” rating on Pennon Group and set a GBX 380 price target, implying approximately 16.21% upside from the current price.
• Analyst views remain broadly positive: five firms rate Pennon a Buy and two rate it Hold, resulting in a consensus “Moderate Buy” rating, although Deutsche Bank recently downgraded the stock to Hold.
• Pennon shares rose 1.8% to GBX 327, but remain well below their 50-day and 200-day moving averages and near the lower end of their 52-week range.

Pennon Group (LON:PNN - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Jefferies Financial Group in a research note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 380 target price on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 16.21% from the company's current price.

A number of other research firms also recently weighed in on PNN. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 575 price objective on shares of Pennon Group in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft downgraded Pennon Group to a "hold" rating and lowered their price objective for the stock from GBX 550 to GBX 380 in a research note on Monday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Pennon Group has a consensus rating of "Moderate Buy" and an average target price of GBX 1,255.71.

Pennon Group Trading Up 1.8%

Shares of Pennon Group stock opened at GBX 327 on Wednesday. The business has a fifty day simple moving average of GBX 447.96 and a two-hundred day simple moving average of GBX 484.87. The company has a debt-to-equity ratio of 347.81, a current ratio of 1.51 and a quick ratio of 1.53. The company has a market capitalization of £1.54 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 8.20 and a beta of 0.57. Pennon Group has a 1 year low of GBX 311.20 and a 1 year high of GBX 605.

Insider Transactions at Pennon Group

In related news, insider Laura Flowerdew sold 1,119 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of GBX 493, for a total transaction of £5,516.67. Insiders have bought 96 shares of company stock worth $44,883 in the last ninety days. Corporate insiders own 0.32% of the company's stock.

Pennon Group Company Profile

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.