Impax Asset Management Group (LON:IPX) Trading Down 18.6% Following Analyst Downgrade

Impax Asset Management Group Plc (LON:IPX) fell 18.6% during mid-day 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 were traded during 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 Stock Performance

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

Impax Asset Management Group Increases Dividend

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

About Impax Asset Management Group

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.