Travis Perkins plc (OTCMKTS:TPRKY) Sees Significant Drop in Short Interest

Travis Perkins plc (OTCMKTS:TPRKYGet Rating) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,400 shares, a decline of 33.3% from the March 31st total of 3,600 shares. Based on an average daily trading volume, of 28,500 shares, the days-to-cover ratio is currently 0.1 days.

TPRKY stock opened at $15.22 on Friday. Travis Perkins has a 12-month low of $15.22 and a 12-month high of $29.26. The company’s fifty day simple moving average is $17.05 and its 200 day simple moving average is $19.53.

The company also recently announced a dividend, which will be paid on Friday, May 20th. Investors of record on Friday, April 1st will be issued a $0.3217 dividend. The ex-dividend date of this dividend is Thursday, March 31st. This represents a yield of 29.27%.

TPRKY has been the topic of a number of research reports. Peel Hunt raised shares of Travis Perkins to a “buy” rating in a research note on Wednesday, March 2nd. Credit Suisse Group reduced their price objective on shares of Travis Perkins from GBX 1,805 ($23.01) to GBX 1,600 ($20.39) in a research note on Tuesday, March 1st. Finally, Jefferies Financial Group cut shares of Travis Perkins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 8th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $1,600.00.

Travis Perkins Company Profile (Get Rating)

Travis Perkins plc distributes building materials to the building, construction, and home improvement markets in the United Kingdom. It operates through, Merchanting, and Toolstation segments. The Merchanting segment distributes interior building products, which include drywalls, ceilings, external envelopes, fire protection products, flooring and partitioning products, and tools and accessories to professionals within the construction industry; civil, drainage, and heavy building materials to specialist contractors and trade professionals; and pipeline and heating solutions.

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