Pennon Group's (PNN) Hold Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “hold” rating on Pennon Group and set a GBX 500 price target, implying approximately 37.2% upside from the stock’s GBX 364.40 opening price.
• Analyst sentiment remains generally positive: five analysts rate Pennon a “buy” and two rate it a “hold,” resulting in a consensus “Moderate Buy” rating.
• Pennon shares have traded between GBX 340 and GBX 605 over the past year and remain below their 50- and 200-day moving averages; the company also reported a high debt-to-equity ratio of 347.81.

Pennon Group (LON:PNN - Get Free Report)'s stock had its "hold" rating restated by research analysts at Jefferies Financial Group in a research note issued to investors on Thursday, Digital Look reports. They presently have a GBX 500 target price on the stock. Jefferies Financial Group's target price would indicate a potential upside of 37.21% from the stock's current price.

Several other equities analysts have also recently issued reports on the company. Citigroup lowered their price objective on Pennon Group from GBX 6,560 to GBX 5,520 and set a "buy" rating on the stock in a research report on Thursday, June 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 575 target price on shares of Pennon Group in a research note on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Pennon Group from GBX 620 to GBX 550 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,297.14.

Pennon Group Trading Up 0.9%

LON:PNN opened at GBX 364.40 on Thursday. The company's 50 day moving average price is GBX 457.42 and its 200-day moving average price is GBX 489.66. Pennon Group has a 52 week low of GBX 340 and a 52 week high of GBX 605. 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 market cap of £1.72 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 8.20 and a beta of 0.57.

Insider Activity at Pennon Group

In other news, insider Laura Flowerdew sold 1,119 shares of the business'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 transaction of £5,516.67. Insiders have purchased 96 shares of company stock valued at $44,883 in the last three months. Insiders own 0.32% of the company's stock.

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.

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