Pennon Group (LON:PNN) Stock Falls 2.5% – Time to Sell?

Pennon Group Plc (LON:PNN) shares traded down 2.5% during trading on Tuesday. The stock traded as low as GBX 337 and last traded at GBX 337. Approximately 1,713,508 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 13,405,366 shares. The stock had previously closed at GBX 345.60.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNN. Royal Bank Of Canada restated an “outperform” rating and set a GBX 575 target price on shares of Pennon Group in a research report on Tuesday, August 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 380 target price on shares of Pennon Group in a report on Thursday. Finally, Deutsche Bank downgraded shares of Pennon Group to a “hold” rating and decreased their price target for the stock from GBX 550 to GBX 380 in a research report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,353.33.

Pennon Group Stock Up 0.1%

The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81. The stock has a market capitalization of £2.32 billion, a P/E ratio of 19.20, a PEG ratio of 8.20 and a beta of 0.55. The company has a fifty day moving average price of GBX 394.01 and a 200-day moving average price of GBX 484.80.

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.