Deutsche Bank Aktiengesellschaft Increases Travis Perkins (LON:TPK) Price Target to GBX 550

Key Points

• Deutsche Bank raised Travis Perkins’ price target from GBX 470 to GBX 550 but maintained a “sell” rating, implying 17.48% downside from the prior close.
• Analyst opinion remains mixed: the stock has an average “hold” rating and a consensus target of GBX 613.83, with targets ranging from GBX 443 to GBX 660.
• Travis Perkins shares fell to GBX 666.50, while recent first-half profit growth, improved margins, cost-cutting and balance-sheet progress supported a potential recovery narrative.

Travis Perkins (LON:TPK - Get Free Report) had its target price boosted by research analysts at Deutsche Bank Aktiengesellschaft from GBX 470 to GBX 550 in a report released on Wednesday,Digital Look reports. The brokerage currently has a "sell" rating on the stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential downside of 17.48% from the company's previous close.

Several other analysts have also issued reports on TPK. JPMorgan Chase & Co. cut their price objective on Travis Perkins from GBX 680 to GBX 630 and set an "overweight" rating for the company in a report on Tuesday, May 19th. Berenberg Bank boosted their price objective on Travis Perkins from GBX 580 to GBX 650 and gave the company a "hold" rating in a research report on Wednesday. Jefferies Financial Group restated an "underperform" rating and set a GBX 443 target price on shares of Travis Perkins in a research report on Wednesday. Finally, Peel Hunt restated a "buy" rating and issued a GBX 660 target price on shares of Travis Perkins in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of GBX 613.83.

Travis Perkins Price Performance

TPK traded down GBX 12 on Wednesday, reaching GBX 666.50. The company had a trading volume of 1,231,204 shares, compared to its average volume of 3,090,556. Travis Perkins has a one year low of GBX 493.40 and a one year high of GBX 723.50. The company has a current ratio of 1.72, a quick ratio of 0.84 and a debt-to-equity ratio of 59.00. The company has a market capitalization of £1.41 billion, a P/E ratio of -8.00, a PEG ratio of 6.44 and a beta of 1.28. The company has a fifty day moving average of GBX 553.41 and a 200-day moving average of GBX 584.87.

Travis Perkins (LON:TPK - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported GBX 15.10 earnings per share (EPS) for the quarter. Travis Perkins had a negative return on equity of 9.35% and a negative net margin of 3.86%. As a group, equities research analysts anticipate that Travis Perkins will post 59.251837 earnings per share for the current year.

Key Stories Impacting Travis Perkins

Here are the key news stories impacting Travis Perkins this week:

• Positive Sentiment: First-half profit increased as price increases and cost-cutting measures offset challenging market conditions. Management also highlighted operational progress and an improving balance sheet, supporting the turnaround narrative. Reuters article
• Positive Sentiment: Improved margins were the main catalyst behind the market’s favorable reaction. Reports said the company is moving in the right direction operationally, even though a broader recovery in merchanting has yet to arrive. Investors’ Chronicle article
• Positive Sentiment: Peel Hunt reaffirmed its “buy” rating and set a GBX 660 price target, indicating continued confidence in Travis Perkins’ recovery and margin-improvement strategy. Digital Look broker note

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.

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