Electrocomponents plc (ECM) Raised to “Neutral” at Citigroup Inc.
Electrocomponents plc (LON:ECM) was upgraded by equities researchers at Citigroup Inc. to a “neutral” rating in a report released on Wednesday. The brokerage presently has a GBX 375 ($4.64) price target on the stock, up from their previous price target of GBX 185 ($2.29). Citigroup Inc.’s price objective would indicate a potential upside of 3.02% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group AG lifted their price objective on shares of Electrocomponents plc from GBX 220 ($2.72) to GBX 250 ($3.09) and gave the stock an “underperform” rating in a research note on Wednesday, August 10th. Shore Capital reissued a “sell” rating on shares of Electrocomponents plc in a research report on Tuesday, June 14th. Peel Hunt reissued a “hold” rating and issued a GBX 250 ($3.09) target price on shares of Electrocomponents plc in a research report on Wednesday, July 20th. Finally, Numis Securities Ltd reissued a “buy” rating and issued a GBX 315 ($3.90) target price on shares of Electrocomponents plc in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Electrocomponents plc currently has an average rating of “Hold” and a consensus target price of GBX 293.40 ($3.63).
Electrocomponents plc (LON:ECM) opened at 364.00 on Wednesday. The firm’s 50-day moving average is GBX 327.87 and its 200-day moving average is GBX 287.30. The stock’s market cap is GBX 1.60 billion. Electrocomponents plc has a 1-year low of GBX 187.30 and a 1-year high of GBX 371.00.
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In other Electrocomponents plc news, insider Guerra,Karen bought 8,500 shares of Electrocomponents plc stock in a transaction on Friday, July 29th. The stock was purchased at an average cost of GBX 293 ($3.63) per share, for a total transaction of £24,905 ($30,823.02).
About Electrocomponents plc
Electrocomponents plc is a service distributor. The Company’s segments include Northern Europe, Southern Europe, Central Europe, Asia Pacific (APAC) and Emerging Markets, and North America. Its Northern Europe’s hub is the United Kingdom, with associated local markets in Denmark, Norway, Sweden and Republic of Ireland.
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