Pennon Group (LON:PNN) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Pennon Group Plc (LON:PNN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 507.10 and traded as high as GBX 548.50. Pennon Group shares last traded at GBX 548.50, with a volume of 1,012,617 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PNN. Barclays reaffirmed an “overweight” rating and set a GBX 670 price objective on shares of Pennon Group in a report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Pennon Group from GBX 580 to GBX 600 and gave the company a “buy” rating in a research note on Monday, January 19th. Finally, Citigroup cut Pennon Group to a “neutral” rating and lifted their price objective for the stock from GBX 539 to GBX 542 in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pennon Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 604.

Pennon Group Price Performance

The firm has a market capitalization of £2.61 billion, a PE ratio of 115.21, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29. The stock’s 50 day simple moving average is GBX 536.33 and its two-hundred day simple moving average is GBX 507.10. The company has a debt-to-equity ratio of 341.72, a quick ratio of 1.54 and a current ratio of 0.97.

Pennon Group (LON:PNN) last posted its quarterly earnings results on Thursday, November 27th. The company reported GBX 14 EPS for the quarter. Pennon Group had a negative return on equity of 0.88% and a negative net margin of 1.05%. On average, sell-side analysts forecast that Pennon Group Plc will post 1.0402417 EPS for the current year.

Insider Buying and Selling at Pennon Group

In other news, insider David Sproul acquired 4,635 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of GBX 536 per share, with a total value of £24,843.60. Insiders own 0.32% of the company’s stock.

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.