Strix Group (LON:KETL) Shares Down 3.6% - Here's Why

Key Points

• Shares fell 3.6% to GBX 39.70 on Tuesday, with trading volume up about 85% to ~1.99 million shares versus the average of ~1.07 million.
• Berenberg Bank cut its price target from GBX 75 to GBX 70 but kept a "buy" rating; the consensus remains a Buy with an average target of GBX 58.
• Strix has a market cap of £88.27m and a PE of 11.68, but carries high leverage with a debt-to-equity ratio of 192.67 and modest short-term liquidity (quick ratio 1.19, current ratio 1.68).

Strix Group Plc (LON:KETL - Get Free Report)'s stock price was down 3.6% during trading on Tuesday . The stock traded as low as GBX 39.63 and last traded at GBX 39.70. Approximately 1,988,074 shares traded hands during trading, an increase of 85% from the average daily volume of 1,074,788 shares. The stock had previously closed at GBX 41.20.

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price target on Strix Group from GBX 75 to GBX 70 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of GBX 58.

Strix Group Stock Down 3.6%

The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 192.67. The firm's fifty day simple moving average is GBX 41.83 and its 200-day simple moving average is GBX 40.94. The company has a market cap of £88.27 million, a PE ratio of 11.68 and a beta of 0.90.

About Strix Group

Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration. Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how, expanding into complementary products and technologies.

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