Travis Perkins (LON:TPK) Trading 6.7% Higher – Here’s What Happened

Travis Perkins plc (LON:TPK)’s stock price rose 6.7% on Thursday . The company traded as high as GBX 655.50 ($8.76) and last traded at GBX 648.35 ($8.66). Approximately 4,115,632 shares were traded during trading, an increase of 135% from the average daily volume of 1,751,510 shares. The stock had previously closed at GBX 607.50 ($8.12).

Wall Street Analyst Weigh In

TPK has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price objective on shares of Travis Perkins from GBX 605 to GBX 594 and set a “hold” rating for the company in a research report on Monday. Berenberg Bank restated a “hold” rating and set a GBX 650 price objective on shares of Travis Perkins in a research report on Monday, September 8th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Travis Perkins in a research report on Friday, October 17th. Finally, Peel Hunt restated a “buy” rating and set a GBX 740 price objective on shares of Travis Perkins in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 663.50.

Travis Perkins Price Performance

The stock’s 50-day moving average price is GBX 602.08 and its 200 day moving average price is GBX 590.69. The firm has a market capitalization of £1.38 billion, a price-to-earnings ratio of -24.78, a PEG ratio of 6.44 and a beta of 1.52. The company has a quick ratio of 0.84, a current ratio of 1.65 and a debt-to-equity ratio of 48.33.

Travis Perkins (LON:TPK) last issued its earnings results on Tuesday, August 5th. The company reported GBX 13.30 EPS for the quarter. Travis Perkins had a negative net margin of 0.37% and a negative return on equity of 0.85%. Equities research analysts expect that Travis Perkins plc will post 59.251837 earnings per share for the current fiscal year.

Travis Perkins Company Profile

Travis Perkins plc engages in distribution of building material products in the United Kingdom. It operates through Merchanting and Toolstation segments. The company offers tools and building supplies. It also distributes pipeline products, as well as supplies managed services, and commercial and industrial heating and cooling solutions.