Standard Chartered (LON:STAN) Reaches New 52-Week High – Should You Buy?

Shares of Standard Chartered PLC (LON:STAN) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 2,072 and last traded at GBX 2,009, with a volume of 6100441 shares. The stock had previously closed at GBX 1,993.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STAN. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group reiterated a “buy” rating and issued a GBX 2,130 price target on shares of Standard Chartered in a research note on Monday, May 18th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 1,938.33.

Standard Chartered Price Performance

The firm’s 50-day moving average is GBX 1,795.58 and its 200-day moving average is GBX 1,762.13. The company has a market capitalization of £44.47 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60.

Insider Activity at Standard Chartered

In related news, insider Peter Burrill sold 10,907 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters purchased 86,027 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of GBX 1,507 per share, with a total value of £1,296,426.89. Insiders own 0.38% of the company’s stock.

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.