Berenberg Bank Issues Pessimistic Forecast for Strix Group (LON:KETL) Stock Price

Strix Group (LON:KETL) had its price objective reduced by investment analysts at Berenberg Bank from GBX 75 to GBX 70 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price target would suggest a potential upside of 80.69% from the company’s previous close.

Separately, Shore Capital Group restated a “buy” rating and issued a GBX 46 price objective on shares of Strix Group in a report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 58.

Strix Group Trading Down 10.1%

Shares of Strix Group stock traded down GBX 4.36 on Tuesday, hitting GBX 38.74. 11,419,741 shares of the company traded hands, compared to its average volume of 1,089,565. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 192.67. The company has a market cap of £88.23 million, a PE ratio of 11.39 and a beta of 0.76. The stock’s 50 day moving average price is GBX 48.21 and its 200-day moving average price is GBX 42.20. Strix Group has a 52 week low of GBX 32.50 and a 52 week high of GBX 52.

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.