Pennon Group plc (LON:PNN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $707.40. Pennon Group shares last traded at $707.40, with a volume of 676,791 shares changing hands.
PNN has been the topic of several research reports. HSBC upped their target price on Pennon Group from GBX 840 ($10.98) to GBX 850 ($11.11) and gave the company a “buy” rating in a report on Monday, May 20th. JPMorgan Chase & Co. lowered their target price on Pennon Group from GBX 780 ($10.19) to GBX 760 ($9.93) and set a “neutral” rating on the stock in a report on Monday, July 8th. Macquarie initiated coverage on Pennon Group in a report on Monday, June 17th. They issued an “outperform” rating and a GBX 870 ($11.37) target price on the stock. Royal Bank of Canada reissued a “sector performer” rating on shares of Pennon Group in a report on Thursday, July 18th. Finally, Deutsche Bank upped their target price on Pennon Group from GBX 750 ($9.80) to GBX 780 ($10.19) and gave the company a “hold” rating in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Pennon Group presently has an average rating of “Hold” and a consensus target price of GBX 810.78 ($10.59).
The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 218.48. The firm has a market cap of $3.02 billion and a price-to-earnings ratio of 14.11. The business has a 50 day moving average of GBX 734.90 and a 200 day moving average of GBX 747.28.
About Pennon Group (LON:PNN)
Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.
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