Berenberg Bank Forecasts Strong Price Appreciation for Travis Perkins (LON:TPK) Stock

Travis Perkins (LON:TPK) had its price target lifted by equities researchers at Berenberg Bank from GBX 650 to GBX 670 in a research report issued to clients and investors on Thursday, Digital Look reports. The firm currently has a “hold” rating on the stock. Berenberg Bank‘s price target points to a potential upside of 3.55% from the stock’s current price.

Several other brokerages also recently weighed in on TPK. JPMorgan Chase & Co. increased their price target on Travis Perkins from GBX 630 to GBX 710 and gave the stock an “overweight” rating in a report on Friday, August 7th. Peel Hunt restated a “buy” rating and set a GBX 660 price objective on shares of Travis Perkins in a report on Tuesday, August 4th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 453 price objective on shares of Travis Perkins in a research report on Tuesday, October 13th. Finally, Deutsche Bank upped their price objective on Travis Perkins from GBX 470 to GBX 550 and gave the company a “sell” rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 632.17.

Travis Perkins Stock Up 2.1%

Shares of LON:TPK opened at GBX 647 on Thursday. The company has a market cap of £1.37 billion, a price-to-earnings ratio of -7.93, a PEG ratio of 6.44 and a beta of 1.30. Travis Perkins has a 12 month low of GBX 493.40 and a 12 month high of GBX 723.50. The company has a 50-day moving average price of GBX 603.69 and a 200 day moving average price of GBX 593.89. The company has a current ratio of 1.66, a quick ratio of 0.84 and a debt-to-equity ratio of 56.92.

About Travis Perkins

Travis Perkins plc engages in distribution of building material products in the United Kingdom. It operates through Merchanting and Toolstation segments. The company offers tools and building supplies. It also distributes pipeline products, as well as supplies managed services, and commercial and industrial heating and cooling solutions. In addition, the company provides in specialist civils and drainage solutions; and air-conditioning and refrigeration products and heat pumps. Further, it provides insulation and interior building products to interior building specialists, contractors, and builders; and kitchens and joinery products.