Connect Group PLC (CNCT) Given Consensus Rating of “Buy” by Brokerages
Shares of Connect Group PLC (LON:CNCT) have earned an average rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is GBX 157.60 ($2.12).
A number of brokerages have recently weighed in on CNCT. FinnCap cut their price objective on Connect Group PLC from GBX 187 ($2.52) to GBX 154 ($2.08) and set a “buy” rating on the stock in a report on Monday, July 31st. J P Morgan Chase & Co cut their price objective on Connect Group PLC from GBX 152 ($2.05) to GBX 144 ($1.94) and set an “overweight” rating on the stock in a report on Tuesday, July 25th. Peel Hunt reissued an “add” rating and issued a GBX 135 ($1.82) price objective on shares of Connect Group PLC in a report on Monday, July 24th. Shore Capital raised Connect Group PLC to a “buy” rating in a report on Thursday, July 20th. Finally, Liberum Capital reaffirmed a “buy” rating and set a GBX 170 ($2.29) target price on shares of Connect Group PLC in a report on Monday, June 26th.
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Connect Group PLC (CNCT) traded up 0.73% on Friday, hitting GBX 103.50. The stock had a trading volume of 28,745 shares. The stock’s market cap is GBX 253.57 million. The company’s 50 day moving average is GBX 104.48 and its 200-day moving average is GBX 119.45. Connect Group PLC has a 12 month low of GBX 88.00 and a 12 month high of GBX 166.75.
In related news, insider Mark Cashmore bought 108,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The shares were purchased at an average cost of GBX 110 ($1.48) per share, with a total value of £118,800 ($160,172.58).
About Connect Group PLC
Connect Group PLC is a United Kingdom-based distribution company. The Company’s segments include Connect News & Media: News Distribution (Smiths News); Connect News & Media: Media (DMD); Connect Parcel Freight (Tuffnells); and Connect Books (Bertrams, Dawson Books and Wordery). Smiths News segment distributes newspapers and magazines to approximately 30,000 retailers across England and Wales from over 40 distribution centers.
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