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Latest Stocks: Travis Perkins plc’s (TPK) Buy Rating Reaffirmed at Liberum Capital

#travisperkins  #businessWeak performances in plumbing and heating saw builders merchant Travis Perkins PLC (LON:TPK) report a fall in 2016 earnings, and the group is cautious on the year ahead as the Brexit uncertainties impact the United Kingdom housing market, sending its shares over 6% lower. Numis Securities Ltd reissued a “hold” rating and issued a GBX 1,545 ($18.79) price target on shares of Travis Perkins plc in a research note on Thursday, October 20th.

Travis Perkins booked an exceptional non-cash impairment charge of 235 million pounds ($289 million) against goodwill and intangible and tangible assets.

Travis Perkins PLC has 248,833,000 shares outstanding at the moment which are trading around 1429 bringing Travis Perkins PLC’s market capitalisation to 3.56B GBP. Barclays PLC reissued an “underweight” rating and issued a GBX 1,350 ($16.82) price target on shares of Travis Perkins plc in a research note on Friday, January 27th. Peel Hunt reissued a “hold” rating and issued a GBX 1,580 ($19.68) price target on shares of Travis Perkins plc in a research note on Thursday, February 9th. Deutsche Bank AG reissued a “buy” rating on shares of Travis Perkins plc in a research note on Tuesday. The correct version of this news story can be viewed at https://www.com-unik.info/2017/03/03/travis-perkins-plcs-tpk-buy-rating-reaffirmed-at-shore-capital.html.

The business also recently declared a dividend, which will be paid on Friday, May 26th.

The board raised the full-year dividend by 2.3% to 45 pence.

“While current consensus expectations are not too stretched for 2017 with flattish profits expected, we would not be surprised to see 2017 consensus move lower, probably down by 4-6 percent”, said analysts at Canaccord Genuity, which has a “buy” rating on the stock.Travis Perkins plc presently has an average rating of “Hold” and an average price target of GBX 1,695.18 ($21.12). The ex-dividend date of this dividend is Thursday, April 13th. Also, insider John Rogers purchased 51 shares of the business’s stock in a transaction dated Thursday, December 1st. In the last 90 days, insiders acquired 164 shares of company stock worth $234,888.

The group’s customers include local authorities, big building firms, traders such as plumbers and kitchen fitters and regular consumers, with its fortunes closely tied to housing transactions and consumer confidence.

Source : ligue1talk

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