Peel Hunt Reaffirms Hold Rating for Polypipe Group PLC (PLP)
Polypipe Group PLC (LON:PLP)‘s stock had its “hold” rating reaffirmed by analysts at Peel Hunt in a report released on Tuesday. They currently have a GBX 350 ($4.27) price objective on the stock. Peel Hunt’s target price points to a potential upside of 33.64% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating on shares of Polypipe Group PLC in a research note on Wednesday, September 7th. Berenberg Bank decreased their price target on Polypipe Group PLC from GBX 395 ($4.81) to GBX 360 ($4.39) and set a “buy” rating for the company in a research note on Wednesday, August 17th. Jefferies Group decreased their price target on Polypipe Group PLC from GBX 350 ($4.27) to GBX 240 ($2.93) and set a “hold” rating for the company in a research note on Wednesday, June 29th. Finally, Numis Securities Ltd reissued a “buy” rating and issued a GBX 370 ($4.51) price target on shares of Polypipe Group PLC in a research note on Tuesday, August 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Polypipe Group PLC has an average rating of “Buy” and an average price target of GBX 336.20 ($4.10).
Shares of Polypipe Group PLC (LON:PLP) opened at 261.90 on Tuesday. The firm has a 50-day moving average price of GBX 281.44 and a 200 day moving average price of GBX 284.01. The company’s market cap is GBX 521.90 million. Polypipe Group PLC has a 1-year low of GBX 217.00 and a 1-year high of GBX 360.00.
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The firm also recently announced a dividend, which was paid on Friday, September 23rd. Investors of record on Thursday, August 25th were paid a dividend of GBX 3.10 ($0.04) per share. The ex-dividend date was Thursday, August 25th. This represents a yield of 1.11%.
In other Polypipe Group PLC news, insider Marsh,Ron bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average price of GBX 279 ($3.40) per share, with a total value of £209,250 ($255,027.42).
About Polypipe Group PLC
Polypipe Group plc is a United Kingdom-based manufacturer of plastic piping systems for the residential, commercial, civil and infrastructure sectors. The Company’s segments include Residential Piping Systems, Commercial and Infrastructure Piping Systems (UK), and Commercial and Infrastructure (Mainland Europe).
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