Fenner plc Receives “Buy” Rating from Jefferies Group (FENR)
Fenner plc (LON:FENR)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a note issued to investors on Monday, AR Network reports. They currently have a GBX 490 ($8.25) price target on the stock. Jefferies Group’s target price suggests a potential upside of 27.91% from the stock’s previous close.
Fenner plc (LON:FENR) opened at 383.09 on Monday. Fenner plc has a 52 week low of GBX 301.93 and a 52 week high of GBX 488.00. The stock’s 50-day moving average is GBX 403.9 and its 200-day moving average is GBX 425.. The company’s market cap is £742.5 million.
The company also recently declared a dividend, which is scheduled for Monday, September 8th. Stockholders of record on Wednesday, July 30th will be given a dividend of GBX 4 ($0.07) per share. This represents a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, July 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Fenner plc in a research note on Monday, April 28th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Fenner plc in a research note on Thursday, April 24th. They now have a GBX 405 ($6.82) price target on the stock. Finally, analysts at Investec cut their price target on shares of Fenner plc from GBX 375 ($6.32) to GBX 360 ($6.06) in a research note on Wednesday, April 23rd. They now have a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of GBX 445.77 ($7.51).
Fenner PLC is a manufacturer and distributor of reinforced polymer products. It operates in two segments: engineered conveyor solutions, which is engaged in the manufacture of rubber, polyvinyl chloride and steel cord conveyor belts, ply, solid woven and steel cord conveyor belting for mining, power generation and industrial applications 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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