Pennon Group (LON:PNN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Pennon Group Plc (LON:PNN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 539.25 and traded as high as GBX 541. Pennon Group shares last traded at GBX 533.50, with a volume of 639,765 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PNN. Citigroup increased their price target on Pennon Group from GBX 628 to GBX 636 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft increased their price target on Pennon Group from GBX 580 to GBX 600 and gave the stock a “buy” rating in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. increased their price target on Pennon Group from GBX 565 to GBX 615 and gave the stock a “neutral” rating in a report on Monday, April 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 630.25.

Pennon Group Trading Down 8.5%

The business has a fifty day moving average of GBX 536.39 and a 200-day moving average of GBX 538.89. The company has a debt-to-equity ratio of 357.72, a quick ratio of 1.54 and a current ratio of 1.62. The company has a market capitalization of £2.30 billion, a P/E ratio of 101.75, a PEG ratio of 8.20 and a beta of 0.56.

Pennon Group Company Profile

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.