Pennon Group (LON:PNN) Hits New 52-Week High at $927.60

Pennon Group plc (LON:PNN) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 927.60 ($12.12) and last traded at GBX 927.60 ($12.12), with a volume of 47925 shares trading hands. The stock had previously closed at GBX 925.60 ($12.09).

Several equities analysts have issued reports on PNN shares. Jefferies Financial Group restated a “hold” rating and set a GBX 740 ($9.67) target price (down previously from GBX 770 ($10.06)) on shares of Pennon Group in a research note on Thursday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Pennon Group in a research note on Friday, September 13th. Barclays restated an “overweight” rating on shares of Pennon Group in a research note on Thursday. Royal Bank of Canada upgraded shares of Pennon Group to an “outperform” rating in a research note on Monday, September 30th. Finally, HSBC upped their target price on shares of Pennon Group from GBX 890 ($11.63) to GBX 950 ($12.41) and gave the company a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of GBX 845.70 ($11.05).

The company’s 50 day moving average price is GBX 863.31 and its two-hundred day moving average price is GBX 769.74. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt-to-equity ratio of 218.48. The stock has a market cap of $3.87 billion and a P/E ratio of 18.15.

About Pennon Group (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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