Pennon Group (LON:PNN) Rating Lowered to "Hold" at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank downgraded Pennon Group to “Hold” and cut its price target to GBX 380 from GBX 550, implying approximately 18% upside from the reported share price.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy and three rate it a Hold, resulting in a consensus “Moderate Buy” rating.
• Pennon shares opened at GBX 321.40, near their one-year low of GBX 311.20 and well below the 50-day and 200-day moving averages of GBX 453.43 and GBX 487.58, respectively.

Pennon Group (LON:PNN - Get Free Report) was downgraded by equities research analysts at Deutsche Bank Aktiengesellschaft to a "hold" rating in a research note issued to investors on Monday, London Stock Exchange reports. They currently have a GBX 380 price objective on the stock, down from their previous price objective of GBX 550. Deutsche Bank Aktiengesellschaft's price target would indicate a potential upside of 18.23% from the stock's current price.

Other analysts also recently issued reports about the company. Royal Bank Of Canada restated an "outperform" rating and set a GBX 575 price objective on shares of Pennon Group in a research report on Tuesday, August 25th. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 500 target price on shares of Pennon Group in a research report on Thursday. 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 stock has a consensus rating of "Moderate Buy" and an average target price of GBX 1,272.86.

Pennon Group Stock Performance

Shares of Pennon Group stock opened at GBX 321.40 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 347.81. The company has a market cap of £1.52 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 8.20 and a beta of 0.57. The company has a 50 day moving average of GBX 453.43 and a 200-day moving average of GBX 487.58. Pennon Group has a 1-year low of GBX 311.20 and a 1-year high of GBX 605.

Insiders Place Their Bets

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of the company's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of GBX 493, for a total value of £5,516.67. Over the last 90 days, insiders have purchased 96 shares of company stock worth $44,883. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.