Impax Asset Management Group (LON:IPX) Shares Down 18.6% After Analyst Downgrade

Shares of Impax Asset Management Group Plc (LON:IPX) fell 18.6% during trading on Tuesday after Berenberg Bank lowered their price target on the stock from GBX 440 to GBX 330. Berenberg Bank currently has a buy rating on the stock. Impax Asset Management Group traded as low as GBX 120.20 ($1.56) and last traded at GBX 122.71 ($1.59). 499,817 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,439,983 shares. The stock had previously closed at GBX 150.80 ($1.96).

Impax Asset Management Group Trading Up 0.5 %

The company has a market cap of £158.87 million, a P/E ratio of 3.99, a price-to-earnings-growth ratio of 5.05 and a beta of 1.64. The firm has a 50-day moving average of GBX 185.66 and a 200 day moving average of GBX 265.94. The company has a current ratio of 3.23, a quick ratio of 2.26 and a debt-to-equity ratio of 5.94.

Impax Asset Management Group Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were given a GBX 22.90 ($0.30) dividend. This is a positive change from Impax Asset Management Group’s previous dividend of $4.70. The ex-dividend date was Thursday, February 20th. This represents a yield of 7.12%. Impax Asset Management Group’s payout ratio is currently 89.19%.

Impax Asset Management Group Company Profile

Impax Asset Management was founded in 1998 and has been a pioneer in the development of investing in the transition to a more sustainable global economy. We are one of the largest investment managers dedicated to investing in sustainable markets globally.

We believe that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency.