Travis Perkins plc (LON:TPK) Price Target Cut to GBX 1,700 by Analysts at Berenberg Bank

Travis Perkins plc (LON:TPK) had its target price cut by Berenberg Bank from GBX 1,800 ($23.44) to GBX 1,700 ($22.14) in a research note released on Wednesday. They currently have a buy rating on the stock.

TPK has been the subject of a number of other research reports. Barclays PLC restated an underweight rating and set a GBX 1,325 ($17.25) price target on shares of Travis Perkins plc in a report on Friday, April 28th. Peel Hunt increased their price objective on shares of Travis Perkins plc from GBX 1,530 ($19.92) to GBX 1,625 ($21.16) and gave the stock a hold rating in a research report on Monday, June 19th. Credit Suisse Group reaffirmed an outperform rating and set a GBX 1,925 ($25.07) price objective on shares of Travis Perkins plc in a research report on Wednesday, April 19th. Deutsche Bank AG reaffirmed a buy rating and set a GBX 1,665 ($21.68) price objective on shares of Travis Perkins plc in a research report on Friday, April 28th. Finally, Liberum Capital reaffirmed a buy rating and set a GBX 1,650 ($21.49) price objective on shares of Travis Perkins plc in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of GBX 1,682.85 ($21.91).

Shares of Travis Perkins plc (LON:TPK) opened at 1505.00 on Wednesday. The company has a 50 day moving average price of GBX 1,479.25 and a 200-day moving average price of GBX 1,530.71. Travis Perkins plc has a one year low of GBX 1,301.00 and a one year high of GBX 1,714.00. The stock’s market cap is GBX 3.79 billion.

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The firm also recently declared a dividend, which will be paid on Friday, November 10th. Shareholders of record on Thursday, September 28th will be given a GBX 15.50 ($0.20) dividend. The ex-dividend date is Thursday, September 28th. This represents a yield of 1.02%.

In other Travis Perkins plc news, insider John Rogers purchased 42 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was bought at an average price of GBX 1,641 ($21.37) per share, with a total value of £689.22 ($897.54). Also, insider Christopher Rogers purchased 55 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was acquired at an average cost of GBX 1,465 ($19.08) per share, with a total value of £805.75 ($1,049.29). Insiders acquired a total of 149 shares of company stock valued at $228,433 in the last three months.

About Travis Perkins plc

Travis Perkins plc is a United Kingdom-based product supplier to the building, construction and home improvement markets. The Company operates through segments, which include General Merchanting, Plumbing & Heating, Contracts and Consumer. The General Merchanting segment consists of the Travis Perkins and Benchmarx brands and supplies products for various types of repair, maintenance and improvement projects (RMI), as well as new residential and commercial construction.

Analyst Recommendations for Travis Perkins plc (LON:TPK)

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