Strix Group (LON:KETL) Shares Down 10.1% on Analyst Downgrade

Strix Group Plc (LON:KETL) shares dropped 10.1% during mid-day trading on Tuesday after Berenberg Bank lowered their price target on the stock from GBX 75 to GBX 70. Berenberg Bank currently has a buy rating on the stock. Strix Group traded as low as GBX 38.65 and last traded at GBX 38.74. Approximately 11,419,741 shares were traded during mid-day trading, an increase of 948% from the average daily volume of 1,089,565 shares. The stock had previously closed at GBX 43.10.

Separately, Shore Capital Group reiterated a “buy” rating and set a GBX 46 price target on shares of Strix Group in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 58.

Strix Group Stock Performance

The firm’s fifty day moving average price is GBX 47.85 and its 200-day moving average price is GBX 42.14. 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 firm has a market cap of £86.32 million, a price-to-earnings ratio of 11.15 and a beta of 0.76.

Strix Group Company Profile

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.