Strix Group (LON:KETL) Trading 0.6% Higher – Here’s Why

Strix Group Plc (LON:KETL)’s stock price rose 0.6% during trading on Tuesday . The company traded as high as GBX 33.55 and last traded at GBX 33.19. Approximately 436,092 shares changed hands during trading, a decline of 34% from the average daily volume of 663,796 shares. The stock had previously closed at GBX 33.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank cut their price objective on shares of Strix Group from GBX 70 to GBX 65 and set a “buy” rating for the company in a research report on Tuesday, August 25th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 55.

Strix Group Stock Up 0.6%

The firm has a 50-day simple moving average of GBX 34.39 and a 200 day simple moving average of GBX 38.15. The stock has a market capitalization of £65.63 million, a P/E ratio of 9.76 and a beta of 0.94. The company has a debt-to-equity ratio of 6.70, a current ratio of 2.74 and a quick ratio of 1.19.

Strix Group Company Profile

Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix’s core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly.

Strix has built up market leading capability and know-how, expanding into complementary products and technologies.