Polypipe Group (PLP) Earns Buy Rating from Shore Capital

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Shore Capital reaffirmed their buy rating on shares of Polypipe Group (LON:PLP) in a report released on Thursday, ThisIsMoney.Co.Uk reports.

PLP has been the topic of several other reports. Peel Hunt reissued a buy rating on shares of Polypipe Group in a research note on Monday, March 18th. Numis Securities cut Polypipe Group to an add rating and set a GBX 450 ($5.88) price objective on the stock. in a research note on Tuesday, March 19th. Finally, Berenberg Bank reduced their price objective on Polypipe Group from GBX 510 ($6.66) to GBX 480 ($6.27) and set a buy rating on the stock in a research note on Monday, January 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of GBX 462.50 ($6.04).

Shares of LON PLP opened at GBX 423 ($5.53) on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.72 and a debt-to-equity ratio of 63.83. Polypipe Group has a 1-year low of GBX 305.40 ($3.99) and a 1-year high of GBX 449.80 ($5.88). The company has a market cap of $841.94 million and a price-to-earnings ratio of 17.34.

The business also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Thursday, April 18th will be paid a dividend of GBX 7.90 ($0.10) per share. This is a boost from Polypipe Group’s previous dividend of $3.70. This represents a yield of 1.95%. The ex-dividend date is Thursday, April 18th. Polypipe Group’s payout ratio is presently 0.49%.

About Polypipe Group

Polypipe Group plc, through its subsidiaries, designs, develops, and manufactures plastic piping systems, water management solutions, and climate management solutions in the United Kingdom, other European countries, and internationally. The company offers above and below ground drainage pipes; cable protection, sewer system, surface water drainage, water management, and mining pipes; water and gas distribution pipes; pressure systems; underfloor heating pipes and manifolds, underfloor heating controls, red floor panels, overlay systems, suspended floor systems, clip rail systems, and staple systems; and ventilation systems, including rigid ducts, radial products, decentralized mechanical extract ventilation, intermittent extract fans, mechanical ventilation with heat recovery, and mechanical extract ventilation systems.

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Analyst Recommendations for Polypipe Group (LON:PLP)

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