Pennon Group (LON:PNN) Shares Down 9.5% Following Analyst Downgrade

Shares of Pennon Group Plc (LON:PNN) traded down 9.5% on Monday after Deutsche Bank Aktiengesellschaft downgraded the stock to a hold rating. Deutsche Bank Aktiengesellschaft now has a GBX 380 price target on the stock, down from their previous price target of GBX 550. Pennon Group traded as low as GBX 311.20 and last traded at GBX 323. Approximately 3,815,871 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 12,884,815 shares. The stock had previously closed at GBX 357.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 575 price target on shares of Pennon Group in a research note on Tuesday, August 25th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 500 price objective on shares of Pennon Group in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Pennon Group currently has an average rating of “Moderate Buy” and an average price target of GBX 1,272.86.

Insiders Place Their Bets

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of GBX 493, for a total transaction of £5,516.67. In the last three months, insiders acquired 96 shares of company stock valued at $44,883. Insiders own 0.32% of the company’s stock.

Pennon Group Price Performance

The stock has a market capitalization of £1.52 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 8.20 and a beta of 0.57. The company has a 50 day moving average of GBX 447.96 and a 200 day moving average of GBX 484.87. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81.

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.