Fenner Receives “Buy” Rating from FinnCap (FENR)
Fenner (LON:FENR)‘s stock had its “buy” rating reaffirmed by investment analysts at FinnCap in a note issued to investors on Wednesday, American Banking News reports. They currently have a GBX 532 ($8.77) price objective on the stock. FinnCap’s price objective would indicate a potential upside of 15.78% from the company’s current price.
Shares of Fenner (LON:FENR) traded up 0.94% on Wednesday, hitting GBX 459.50. The stock had a trading volume of 1,588,193 shares. Fenner has a 52-week low of GBX 301.93 and a 52-week high of GBX 488.00. The stock has a 50-day moving average of GBX 457.4 and a 200-day moving average of GBX 398.3. The company’s market cap is £890.2 million.
Several other analysts have also recently commented on the stock. Analysts at Peel Hunt downgraded shares of Fenner to a “hold” rating in a research note to investors on Monday. Separately, analysts at Investec raised their price target on shares of Fenner from GBX 385 ($6.34) to GBX 390 ($6.43) in a research note to investors on Monday. They now have a “sell” rating on the stock. Finally, analysts at Numis Securities Ltd reiterated an “add” rating on shares of Fenner in a research note to investors on Wednesday, January 8th. They now have a GBX 475 ($7.83) price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 444.08 ($7.32).
Fenner PLC is a manufacturer and distributor of reinforced polymer products. It operates in two segments: conveyor belting, which is engaged in the manufacture of rubber, polyvinyl chloride and steel cord conveyor belts, and advanced engineered products, which is engaged in the manufacture of precision polymer products; problem-solving power transmission and motion transfer components; silicone and complex hoses for heavy duty trucks, buses and off-road vehicles; seals and sealing solutions for the fluid power and oil and gas industries; technical textiles for medical and industrial applications and silicone based products for medical applications; rollers for digital image processing and medical diagnostics, and fluropolymer components for fluid and gas handling.
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