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

Shares of Impax Asset Management Group Plc (LON:IPX - Get Free Report) dropped 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 ($1.57) and last traded at GBX 122.71 ($1.61). Approximately 499,817 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,439,983 shares. The stock had previously closed at GBX 150.80 ($1.97).

Impax Asset Management Group Price Performance

The firm has a market cap of £159.88 million, a PE ratio of 4.02, a PEG ratio of 5.05 and a beta of 1.64. The firm has a fifty day simple moving average of GBX 181.95 and a two-hundred day simple moving average of GBX 262.49. The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.26 and a current ratio of 3.23.

Impax Asset Management Group Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a GBX 22.90 ($0.30) dividend. This represents a yield of 7.12%. The ex-dividend date of this dividend was Thursday, February 20th. This is a boost from Impax Asset Management Group's previous dividend of $4.70. 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.