Impax Asset Management Group (LON:IPX) Price Target Cut to GBX 510 by Analysts at Berenberg Bank

Impax Asset Management Group (LON:IPX) had its price objective reduced by Berenberg Bank from GBX 560 ($7.07) to GBX 510 ($6.44) in a research report released on Friday, Marketbeat reports. Berenberg Bank currently has a buy rating on the stock.

Impax Asset Management Group Trading Down 23.1 %

IPX opened at GBX 252 ($3.18) on Friday. The firm’s fifty day moving average is GBX 352.46 and its two-hundred day moving average is GBX 378.91. The firm has a market cap of £322.46 million, a PE ratio of 812.90, a price-to-earnings-growth ratio of 5.05 and a beta of 1.64. Impax Asset Management Group has a twelve month low of GBX 238.50 ($3.01) and a twelve month high of GBX 575 ($7.26). The company has a debt-to-equity ratio of 6.93, a quick ratio of 2.26 and a current ratio of 3.59.

Impax Asset Management Group Increases Dividend

The firm also recently announced 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 positive change from Impax Asset Management Group’s previous dividend of $4.70. This represents a yield of 7.12%. Impax Asset Management Group’s payout ratio is currently 9,032.26%.

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.