Pennon Group (LON:PNN) Sets New 1-Year High at $842.00

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Pennon Group plc (LON:PNN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 842 ($11.00) and last traded at GBX 841.40 ($10.99), with a volume of 196209 shares changing hands. The stock had previously closed at GBX 821.40 ($10.73).

A number of analysts have issued reports on the stock. Macquarie assumed coverage on shares of Pennon Group in a report on Monday, June 17th. They issued an “outperform” rating and a GBX 870 ($11.37) price objective for the company. HSBC reissued a “buy” rating on shares of Pennon Group in a report on Monday, September 30th. Barclays raised shares of Pennon Group to an “overweight” rating and boosted their price objective for the company from GBX 825 ($10.78) to GBX 1,000 ($13.07) in a report on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Pennon Group in a report on Friday, September 13th. Finally, Deutsche Bank raised shares of Pennon Group to a “buy” rating and boosted their price objective for the company from GBX 780 ($10.19) to GBX 880 ($11.50) in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 835.70 ($10.92).

The firm’s 50-day moving average price is GBX 770.98 and its 200 day moving average price is GBX 746.53. The company has a market capitalization of $3.64 billion and a price-to-earnings ratio of 16.98. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt-to-equity ratio of 218.48.

Pennon Group Company Profile (LON:PNN)

Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.

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