Electrocomponents plc’s (ECM) Sell Rating Reaffirmed at Shore Capital
Electrocomponents plc (LON:ECM)‘s stock had its “sell” rating reissued by Shore Capital in a report issued on Tuesday.
ECM has been the topic of several other reports. Peel Hunt upped their price objective on Electrocomponents plc from GBX 420 ($5.46) to GBX 500 ($6.50) and gave the company an “add” rating in a research note on Tuesday, January 24th. Liberum Capital reiterated a “buy” rating and issued a GBX 500 ($6.50) price objective on shares of Electrocomponents plc in a research note on Friday, February 10th. Barclays PLC upgraded Electrocomponents plc to an “equal weight” rating and upped their price objective for the company from GBX 289 ($3.76) to GBX 567 ($7.38) in a research note on Thursday, May 11th. Numis Securities Ltd reiterated a “hold” rating and issued a GBX 500 ($6.50) price objective on shares of Electrocomponents plc in a research note on Friday, February 10th. Finally, HSBC Holdings plc reiterated a “buy” rating and issued a GBX 520 ($6.76) price objective on shares of Electrocomponents plc in a research note on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Electrocomponents plc has a consensus rating of “Hold” and an average price target of GBX 466.89 ($6.07).
Electrocomponents plc (LON:ECM) traded up 1.13% on Tuesday, reaching GBX 579.50. The company had a trading volume of 1,264,705 shares. The company has a 50-day moving average of GBX 524.83 and a 200 day moving average of GBX 480.88. Electrocomponents plc has a one year low of GBX 236.40 and a one year high of GBX 580.18. The stock’s market cap is GBX 2.55 billion.
The company also recently disclosed a dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, June 15th will be given a GBX 7.30 ($0.09) dividend. This represents a yield of 1.33%. This is a positive change from Electrocomponents plc’s previous dividend of $5.00. The ex-dividend date is Thursday, June 15th.
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In other news, insider Peter M. Johnson acquired 3,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were purchased at an average cost of GBX 494 ($6.43) per share, for a total transaction of £14,820 ($19,279.30).
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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