Travis Perkins (LON:TPK) Price Target Raised to GBX 710 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Travis Perkins’ price target to GBX 710 from GBX 630 and maintained an “overweight” rating, implying 5.65% potential upside.
• Analyst views remain mixed: the consensus rating is “Hold” with an average target price of GBX 627.17, ranging from GBX 443 to GBX 710.
• Travis Perkins shares opened at GBX 672 and were up 1.4%, while the company reported quarterly earnings of GBX 15.10 per share and continues to have negative profitability metrics.

Travis Perkins (LON:TPK - Get Free Report) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from GBX 630 to GBX 710 in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 5.65% from the stock's current price.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Travis Perkins from GBX 470 to GBX 550 and gave the stock a "sell" rating in a research report on Wednesday. Jefferies Financial Group reissued an "underperform" rating and set a GBX 443 price target on shares of Travis Perkins in a research report on Wednesday. Peel Hunt reissued a "buy" rating and set a GBX 660 price objective on shares of Travis Perkins in a research note on Tuesday. Finally, Berenberg Bank upped their price objective on shares of Travis Perkins from GBX 580 to GBX 650 and gave the stock a "hold" rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of GBX 627.17.

Travis Perkins Stock Up 1.4%

Shares of LON:TPK opened at GBX 672 on Friday. Travis Perkins has a 52-week low of GBX 493.40 and a 52-week high of GBX 723.50. The firm has a market capitalization of £1.42 billion, a P/E ratio of -8.07, a P/E/G ratio of 6.44 and a beta of 1.28. The stock has a 50 day moving average price of GBX 558.30 and a 200-day moving average price of GBX 584.82. The company has a debt-to-equity ratio of 59.00, a quick ratio of 0.84 and a current ratio of 1.72.

Travis Perkins (LON:TPK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported GBX 15.10 earnings per share 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 EPS for the current fiscal year.

About Travis Perkins

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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