Spirent Communications Plc (SPT) Upgraded to Buy at Numis Securities Ltd
Spirent Communications Plc (LON:SPT) was upgraded by Numis Securities Ltd to a “buy” rating in a note issued to investors on Monday. The firm presently has a GBX 145 ($1.79) price objective on the stock, up from their prior price objective of GBX 80 ($0.99). Numis Securities Ltd’s target price would suggest a potential upside of 32.42% from the stock’s previous close.
Several other brokerages have also recently weighed in on SPT. N+1 Singer reissued a “hold” rating and issued a GBX 109 ($1.35) price objective on shares of Spirent Communications Plc in a research note on Friday, March 10th. Liberum Capital reissued a “hold” rating and issued a GBX 90 ($1.11) price objective on shares of Spirent Communications Plc in a research note on Thursday, March 2nd. Goldman Sachs Group Inc boosted their price objective on shares of Spirent Communications Plc from GBX 76 ($0.94) to GBX 103 ($1.27) and gave the stock a “neutral” rating in a research note on Friday, January 20th. Finally, Barclays PLC reissued an “equal weight” rating and issued a GBX 74 ($0.91) price objective on shares of Spirent Communications Plc in a research note on Tuesday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Spirent Communications Plc has a consensus rating of “Hold” and an average price target of GBX 102.63 ($1.27).
Shares of Spirent Communications Plc (LON:SPT) traded up 0.46% during trading on Monday, hitting GBX 109.50. The stock had a trading volume of 480,133 shares. The company’s market capitalization is GBX 668.61 million. The firm has a 50-day moving average of GBX 103.30 and a 200 day moving average of GBX 90.67. Spirent Communications Plc has a 1-year low of GBX 72.00 and a 1-year high of GBX 111.25.
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The company also recently announced a dividend, which will be paid on Friday, May 5th. Investors of record on Thursday, March 9th will be issued a GBX 1.80 ($0.02) dividend. This is a positive change from Spirent Communications Plc’s previous dividend of $1.27. The ex-dividend date of this dividend is Thursday, March 9th. This represents a yield of 1.71%.
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In related news, insider Eric G. Hutchinson acquired 256 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were purchased at an average price of GBX 98 ($1.21) per share, for a total transaction of £250.88 ($309.84). Also, insider Eric G. Hutchinson acquired 182,713 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of GBX 109 ($1.35) per share, for a total transaction of £199,157.17 ($245,964.15). In the last 90 days, insiders purchased 258,223 shares of company stock worth $27,915,951.
About Spirent Communications Plc
Spirent Communications plc (Spirent) is a provider of test methodologies and solutions for data communications. The Company operates through three segments: Networks & Applications, Wireless & Service Positioning and Service Assurance. The Networks & Applications segment develops solutions for functional, performance and security testing of various networks and applications that simulate real-world conditions in the lab, before a commercial launch and in the live network.
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