GKN plc (GKNLY) Lowered to Hold at Zacks Investment Research
GKN plc (NASDAQ:GKNLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “GKN plc operates as an engineering business serving the automotive, industrial, off-highway, and aerospace markets. It sells its products primarily to vehicle and aircraft manufacturers as well as, in Aerospace, to other tier one suppliers. It operates in four different business areas. Automotive segment supplies driveshaft, geared components, torque management devices, structural and engine components and substrates for catalytic converters. Powder Metallurgy segment produces powdered metal and sintered components for automotive and other industrial customers. OffHighway segment mainly designs and manufactures steel wheels and driveline products for the agricultural, construction and mining, and industrial machinery markets. Aerospace segment’ activities are concentrated on the production of airframe and engine structures, components and assemblies for both military and civil aerospace markets. GKN plc is headquartered in Redditch, the United Kingdom. “
A number of other brokerages also recently issued reports on GKNLY. HSBC began coverage on shares of GKN plc in a research report on Thursday, October 6th. They issued a “buy” rating on the stock. Citigroup Inc. downgraded shares of GKN plc from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 27th. Beaufort Securities reissued a “buy” rating on shares of GKN plc in a research report on Wednesday, July 27th. Bank of America Corp. downgraded shares of GKN plc from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. downgraded shares of GKN plc from a “buy” rating to a “neutral” rating in a research report on Monday, June 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.75.
Shares of GKN plc (NASDAQ:GKNLY) traded down 2.69% during mid-day trading on Tuesday, hitting $3.98. 38,023 shares of the stock were exchanged. The stock’s 50-day moving average price is $4.13 and its 200-day moving average price is $4.04. The company has a market cap of $6.83 billion and a P/E ratio of 27.26. GKN plc has a 52-week low of $3.36 and a 52-week high of $4.75.
About GKN plc
GKN plc is a global engineering company. The Company is engaged in the design, manufacture and service of systems and components for original equipment manufacturers. The Company operates in four segments: GKN Aerospace, GKN Driveline, GKN Powder Metallurgy and GKN Land Systems. Its GKN Aerospace segment is a supplier of aerostructures, engine products and systems, and electrical wiring systems to the global aerospace industry.
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