Pennon Group (LON:PNN) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Pennon Group shares have recently surpassed their 200-day moving average, trading as high as GBX 476.80 ($6.43), while current trading is at GBX 472.40 ($6.37).
• The company's debt-to-equity ratio is notably high at 341.72, and it reported a negative net margin of 1.05% in its latest earnings.
• Insider transactions indicate confidence, with a recent purchase of 2,000 shares by insider Andrea Blance for a total value of £9,860.

Shares of Pennon Group Plc (LON:PNN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 474.79 ($6.39) and traded as high as GBX 476.80 ($6.41). Pennon Group shares last traded at GBX 472.40 ($6.36), with a volume of 546,142 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their target price on shares of Pennon Group from GBX 650 to GBX 670 and gave the company an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 583.50.

Pennon Group Trading Up 0.8%

The stock has a market cap of £2.28 billion, a P/E ratio of -138.50, a PEG ratio of 8.20 and a beta of 0.29. The firm's fifty day moving average price is GBX 494.58 and its two-hundred day moving average price is GBX 476.05. The company has a debt-to-equity ratio of 341.72, a current ratio of 0.97 and a quick ratio of 1.54.

Pennon Group (LON:PNN - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported GBX (10.30) EPS for the quarter. Pennon Group had a negative net margin of 1.05% and a negative return on equity of 0.88%. As a group, equities research analysts forecast that Pennon Group Plc will post 1.0402417 EPS for the current year.

Insider Transactions at Pennon Group

In other Pennon Group news, insider Andrea Blance purchased 2,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was acquired at an average cost of GBX 493 per share, for a total transaction of £9,860. Insiders have bought 2,153 shares of company stock worth $1,060,683 in the last ninety days. Corporate insiders own 0.51% 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.