Burberry Group PLC (BURBY) Downgraded by Zacks Investment Research to “Hold”
Burberry Group PLC (OTCMKTS:BURBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Burberry Group plc is engaged in the designing, sourcing, manufacturing and marketing of luxury clothing and non-apparel accessories. The Company’s products include outerwear, fragrance and beauty products, eyewear, watches, trench coats, small leather goods, handbags, totes and mufflers, scarves, shoes, belts and jewellery. It sells through a diversified network of retail, digital, wholesale and licensing channels worldwide. Burberry Group plc is headquartered in London, the United Kingdom. “
Several other research firms have also issued reports on BURBY. Berenberg Bank started coverage on shares of Burberry Group PLC in a report on Thursday, October 13th. They issued a “buy” rating for the company. RBC Capital Markets upgraded shares of Burberry Group PLC from an “underperform” rating to a “hold” rating in a report on Friday, September 30th. BNP Paribas restated a “neutral” rating on shares of Burberry Group PLC in a report on Wednesday, August 3rd. Beaufort Securities restated a “hold” rating on shares of Burberry Group PLC in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Burberry Group PLC in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Burberry Group PLC presently has an average rating of “Hold” and an average target price of $20.00.
Shares of Burberry Group PLC (OTCMKTS:BURBY) traded up 4.23% during midday trading on Wednesday, reaching $18.25. 5,478 shares of the company’s stock were exchanged. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 20.69 and a beta of 1.12. The stock’s 50 day moving average price is $17.86 and its 200 day moving average price is $17.10. Burberry Group PLC has a 12-month low of $13.88 and a 12-month high of $22.50.
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