Impax Asset Management Group (LON:IPX) Trading Down 9.5% After Analyst Downgrade

Impax Asset Management Group Plc (LON:IPX)’s share price was down 9.5% during trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 700 to GBX 620. Berenberg Bank currently has a buy rating on the stock. Impax Asset Management Group traded as low as GBX 375 ($4.80) and last traded at GBX 377.50 ($4.84). Approximately 169,332 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 243,077 shares. The stock had previously closed at GBX 417 ($5.34).

Impax Asset Management Group Trading Down 1.0 %

The company has a quick ratio of 2.26, a current ratio of 3.15 and a debt-to-equity ratio of 6.53. The firm has a market cap of £488.89 million, a price-to-earnings ratio of 1,283.33, a price-to-earnings-growth ratio of 5.05 and a beta of 1.51. The business has a 50 day moving average price of GBX 437.82 and a 200-day moving average price of GBX 469.63.

Impax Asset Management Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, July 19th. Stockholders of record on Thursday, June 13th will be paid a GBX 4.70 ($0.06) dividend. The ex-dividend date is Thursday, June 13th. This represents a dividend yield of 0.94%. Impax Asset Management Group’s dividend payout ratio (DPR) is currently 9,333.33%.

About Impax Asset Management Group

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.