Fenner plc Price Target Cut to GBX 300 by Analysts at Investec (FENR)
Research analysts at Investec cut their price target on shares of Fenner plc (LON:FENR) from GBX 320 ($5.48) to GBX 300 ($5.14) in a report released on Wednesday. The firm currently has a “sell” rating on the stock. Investec’s price target indicates a potential downside of 12.82% from the company’s current price.
Shares of Fenner plc (LON:FENR) traded up 0.38% during mid-day trading on Wednesday, hitting GBX 344.10. The stock had a trading volume of 785,378 shares. Fenner plc has a 1-year low of GBX 320.00 and a 1-year high of GBX 488.00. The stock’s 50-day moving average is GBX 352. and its 200-day moving average is GBX 401.2. The company’s market cap is £666.9 million.
FENR has been the subject of a number of other recent research reports. Analysts at FinnCap cut their price target on shares of Fenner plc from GBX 330 ($5.65) to GBX 215 ($3.68) in a research note on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Numis Securities Ltd reiterated a “hold” rating on shares of Fenner plc in a research note on Tuesday. They now have a GBX 375 ($6.42) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Fenner plc in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 383.92 ($6.57).
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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