Polypipe Group (LON:PLP) Stock Rating Lowered by Peel Hunt

Posted by Shane Hupp on Nov 21st, 2019

Polypipe Group (LON:PLP) was downgraded by investment analysts at Peel Hunt to a “hold” rating in a note issued to investors on Tuesday, Stock Target Advisor reports. They currently have a GBX 475 ($6.21) target price on the stock, up from their prior target price of GBX 455 ($5.95). Peel Hunt’s target price would suggest a potential upside of 2.59% from the stock’s previous close.

Several other research firms also recently commented on PLP. Deutsche Bank reiterated a “hold” rating and issued a GBX 445 ($5.81) price objective on shares of Polypipe Group in a report on Wednesday, October 2nd. Shore Capital reiterated a “buy” rating on shares of Polypipe Group in a report on Wednesday, September 18th. Finally, Peel Hunt reiterated an “add” rating and issued a GBX 455 ($5.95) price objective on shares of Polypipe Group in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of GBX 459 ($6.00).

LON PLP traded down GBX 6.40 ($0.08) during trading hours on Tuesday, hitting GBX 463 ($6.05). The company’s stock had a trading volume of 745,482 shares, compared to its average volume of 499,664. Polypipe Group has a 12 month low of GBX 307 ($4.01) and a 12 month high of GBX 478.20 ($6.25). The company’s 50 day simple moving average is GBX 444.49 and its two-hundred day simple moving average is GBX 423.40. The company has a market cap of $920.78 million and a P/E ratio of 18.74. The company has a debt-to-equity ratio of 68.59, a current ratio of 1.51 and a quick ratio of 0.94.

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.