Electrocomponents plc (ECM) Raised to “Neutral” at Citigroup Inc.
Electrocomponents plc (LON:ECM) was upgraded by analysts at Citigroup Inc. to a “neutral” rating in a report released on Wednesday. The brokerage currently has a GBX 375 ($4.64) price target on the stock, up from their prior price target of GBX 185 ($2.29). Citigroup Inc.’s price target suggests a potential upside of 3.02% from the company’s previous close.
Other research analysts have also issued reports about the stock. Numis Securities Ltd lowered shares of Electrocomponents plc to an “add” rating and boosted their price target for the stock from GBX 315 ($3.90) to GBX 350 ($4.33) in a research note on Thursday, September 15th. Peel Hunt boosted their price target on shares of Electrocomponents plc from GBX 260 ($3.22) to GBX 315 ($3.90) and gave the stock a “hold” rating in a research note on Thursday, September 15th. Shore Capital reiterated a “sell” rating on shares of Electrocomponents plc in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG boosted their price target on shares of Electrocomponents plc from GBX 250 ($3.09) to GBX 300 ($3.71) and gave the stock an “underperform” rating in a research note on Tuesday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 293.40 ($3.63).
Electrocomponents plc (LON:ECM) opened at 364.00 on Wednesday. The firm has a 50-day moving average of GBX 327.87 and a 200-day moving average of GBX 287.30. The stock’s market capitalization is GBX 1.60 billion. Electrocomponents plc has a 1-year low of GBX 187.30 and a 1-year high of GBX 371.00.
In other Electrocomponents plc news, insider Guerra,Karen purchased 8,500 shares of Electrocomponents plc stock in a transaction on Friday, July 29th. The shares were bought at an average price of GBX 293 ($3.63) per share, with a total value of £24,905 ($30,823.02).
About Electrocomponents plc
Electrocomponents plc is a service distributor. The Company’s segments include Northern Europe, Southern Europe, Central Europe, Asia Pacific (APAC) and Emerging Markets, and North America. Its Northern Europe’s hub is the United Kingdom, with associated local markets in Denmark, Norway, Sweden and Republic of Ireland.
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