Pennon Group (LON:PNN) Reaches New 52-Week Low - What's Next?

Key Points

• Pennon Group shares hit a new 52-week low, falling to GBX 440 before last trading at GBX 440.40, down 1.0% on the day.
• Analysts remain broadly positive, with five Buy ratings and two Holds; however, several firms recently lowered their price targets. MarketBeat lists a consensus rating of “Moderate Buy.”
• The company has a £2.07 billion market capitalization, while its shares trade below both the 50-day moving average of GBX 468.06 and the 200-day average of GBX 503.30.

Pennon Group Plc (LON:PNN - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The stock traded as low as GBX 440 and last traded at GBX 440.40, with a volume of 432996 shares. The stock had previously closed at GBX 444.20.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PNN shares. Jefferies Financial Group dropped their price objective on shares of Pennon Group from GBX 590 to GBX 500 and set a "hold" rating for the company in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Pennon Group from GBX 620 to GBX 550 and set a "buy" rating for the company in a research report on Tuesday, June 16th. Citigroup dropped their price target on shares of Pennon Group from GBX 6,560 to GBX 5,520 and set a "buy" rating for the company in a research note on Thursday, June 11th. UBS Group reiterated a "buy" rating and set a GBX 650 price target on shares of Pennon Group in a report on Friday, June 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 575 price objective on shares of Pennon Group in a research note on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,297.14.

Pennon Group Stock Down 1.0%

The stock has a market cap of £2.07 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 8.20 and a beta of 0.57. 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 stock's 50-day moving average price is GBX 468.06 and its 200-day moving average price is GBX 503.30.

Insider Buying and Selling

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of the company's stock in a transaction 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 acquired a total of 95 shares of company stock worth $44,685 over the last quarter. Corporate 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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