J P Morgan Chase & Co Reiterates Underweight Rating for Ashmore Group plc (ASHM)
Ashmore Group plc (LON:ASHM)‘s stock had its “underweight” rating reaffirmed by analysts at J P Morgan Chase & Co in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a GBX 310 ($4.18) target price on the investment management service provider’s stock. J P Morgan Chase & Co’s price target would suggest a potential downside of 10.17% from the company’s previous close.
Several other brokerages have also recently weighed in on ASHM. Morgan Stanley lowered their price target on shares of Ashmore Group plc from GBX 385 ($5.19) to GBX 346 ($4.66) and set an “equal weight” rating on the stock in a research report on Monday, September 18th. Berenberg Bank cut their price target on shares of Ashmore Group plc from GBX 400 ($5.39) to GBX 380 ($5.12) and set a “buy” rating on the stock in a research note on Thursday, September 14th. Societe Generale cut their price target on shares of Ashmore Group plc from GBX 370 ($4.99) to GBX 365 ($4.92) and set a “hold” rating on the stock in a research note on Wednesday, September 13th. Macquarie reiterated a “neutral” rating and set a GBX 374 ($5.04) price target on shares of Ashmore Group plc in a research note on Monday, September 11th. Finally, Numis Securities Ltd reiterated a “hold” rating and set a GBX 320 ($4.31) price target on shares of Ashmore Group plc in a research note on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of GBX 355.13 ($4.79).
Ashmore Group plc (ASHM) traded up 0.26% during trading on Thursday, reaching GBX 345.10. 832,891 shares of the company’s stock traded hands. The firm’s market capitalization is GBX 2.31 billion. The company has a 50-day moving average price of GBX 357.94 and a 200 day moving average price of GBX 354.75. Ashmore Group plc has a one year low of GBX 269.00 and a one year high of GBX 379.70.
In related news, insider Tom Shippey sold 92,785 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of GBX 341 ($4.60), for a total transaction of £316,396.85 ($426,583.32).
Ashmore Group plc Company Profile
Ashmore Group plc is a United Kingdom-based company, which operates as a specialist emerging markets asset manager. The Company offers a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. Its geographical segments include United Kingdom, United States and Others.
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