Johnson Matthey PLC (JMAT) Stock Rating Upgraded by Morgan Stanley
Johnson Matthey PLC (LON:JMAT) was upgraded by analysts at Morgan Stanley to an “overweight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a GBX 3,500 ($44.52) price target on the stock, up from their previous price target of GBX 3,000 ($38.16). Morgan Stanley’s target price suggests a potential upside of 21.91% from the stock’s current price.
A number of other research firms have also issued reports on JMAT. Liberum Capital reissued a “hold” rating and set a GBX 3,300 ($41.97) price target on shares of Johnson Matthey PLC in a report on Thursday, April 6th. Deutsche Bank AG reissued a “buy” rating on shares of Johnson Matthey PLC in a report on Monday, May 22nd. Credit Suisse Group reissued an “outperform” rating and set a GBX 3,450 ($43.88) price target on shares of Johnson Matthey PLC in a report on Thursday, March 30th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a GBX 3,200 ($40.70) price objective on shares of Johnson Matthey PLC in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Johnson Matthey PLC presently has an average rating of “Hold” and a consensus target price of GBX 3,453.67 ($43.93).
Shares of Johnson Matthey PLC (JMAT) traded down 1.88% during mid-day trading on Thursday, reaching GBX 2871.00. The company’s stock had a trading volume of 941,340 shares. The firm’s 50-day moving average price is GBX 3,047.80 and its 200 day moving average price is GBX 3,072.89. Johnson Matthey PLC has a 12-month low of GBX 2,809.00 and a 12-month high of GBX 3,568.00. The firm’s market cap is GBX 5.51 billion.
The business also recently declared a dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Thursday, June 8th will be given a dividend of GBX 54.50 ($0.69) per share. This represents a dividend yield of 1.76%. This is an increase from Johnson Matthey PLC’s previous dividend of $20.50. The ex-dividend date is Thursday, June 8th.
In related news, insider Simon Farrant purchased 12 shares of Johnson Matthey PLC stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of GBX 3,119 ($39.67) per share, for a total transaction of £374.28 ($476.06). Over the last quarter, insiders have bought 36 shares of company stock valued at $108,612.
About Johnson Matthey PLC
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