Impax Asset Management Group (LON:IPX) Trading Down 19.2% Following Analyst Downgrade

Shares of Impax Asset Management Group Plc (LON:IPX) dropped 19.2% on Friday after Berenberg Bank lowered their price target on the stock from GBX 560 to GBX 510. Berenberg Bank currently has a buy rating on the stock. Impax Asset Management Group traded as low as GBX 256 ($3.23) and last traded at GBX 264.50 ($3.34). Approximately 1,409,562 shares were traded during trading, an increase of 357% from the average daily volume of 308,130 shares. The stock had previously closed at GBX 327.50 ($4.13).

Impax Asset Management Group Stock Down 23.1 %

The company has a debt-to-equity ratio of 6.93, a quick ratio of 2.26 and a current ratio of 3.59. The company’s 50-day moving average price is GBX 352.46 and its 200 day moving average price is GBX 377.96. The stock has a market capitalization of £322.46 million, a P/E ratio of 812.90, a P/E/G ratio of 5.05 and a beta of 1.64.

Impax Asset Management Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be issued a dividend of GBX 22.90 ($0.29) per share. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from Impax Asset Management Group’s previous dividend of $4.70. This represents a yield of 7.12%. Impax Asset Management Group’s dividend payout ratio (DPR) is currently 9,032.26%.

Impax Asset Management Group Company Profile

Impax Asset Management Group plc is a publicly owned investment manager. Through its subsidiaries, it provides investment services to funds specializing in the environmental markets sector, with a focus on alternative energy, water, and waste sectors, primarily in the United Kingdom. It manages a range of funds and segregated accounts on behalf of institutional and private investors.