Restore (LON:RST) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Restore plc (LON:RST)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 258.52 and traded as high as GBX 258.90. Restore shares last traded at GBX 258, with a volume of 280,615 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 435 target price on shares of Restore in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 367.33.

Restore Price Performance

The company has a debt-to-equity ratio of 118.39, a quick ratio of 1.28 and a current ratio of 0.93. The company has a market capitalization of £344.76 million, a PE ratio of -54.89, a price-to-earnings-growth ratio of 0.41 and a beta of 0.12. The firm’s 50-day simple moving average is GBX 258.52 and its 200 day simple moving average is GBX 257.18.

Restore announced that its Board of Directors has approved a stock buyback plan on Monday, March 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Restore

In related news, insider Dan Baker sold 55,795 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of GBX 261, for a total transaction of £145,624.95. 16.26% of the stock is owned by company insiders.

About Restore

We provide secure and sustainable business services for data, information, communications and assets.

Restore plc leads the markets it serves. Supporting public and private sectors with critical services, income is highly predictable, recurring in nature and generates strong cashflows. We provide integrated information and data management, business digitisation, secure recycling of paper and technology assets, and commercial relocation solutions.

The Group has over 75 sites providing national scale with local service.