Big Yellow Group plc (BYG) Downgraded by Goldman Sachs to Neutral
Big Yellow Group plc (LON:BYG) was downgraded by Goldman Sachs to a “neutral” rating in a research note issued to investors on Friday. They currently have a GBX 995 ($14.40) price objective on the stock, up from their prior price objective of GBX 965 ($13.96). Goldman Sachs’ target price would indicate a potential upside of 17.54% from the company’s previous close.
In related news, insider Vetch,Nicholas sold 2,974 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of GBX 782 ($11.32), for a total value of £23,256.68 ($33,651.69).
Big Yellow Group plc (LON:BYG) opened at 842.0000 on Friday. The company’s 50-day moving average is GBX 808.68 and its 200 day moving average is GBX 780.25. Big Yellow Group plc has a 12-month low of GBX 620.00 and a 12-month high of GBX 893.50. The stock’s market capitalization is GBX 1.31 billion.
The company also recently declared a dividend, which will be paid on Thursday, July 28th. Investors of record on Thursday, June 16th will be given a GBX 12.80 ($0.19) dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a dividend yield of 1.44%. This is an increase from Big Yellow Group plc’s previous dividend of $12.10.
A number of other equities research analysts have also commented on BYG. Liberum Capital reissued a “hold” rating and set a GBX 835 ($12.08) price objective on shares of Big Yellow Group plc in a report on Thursday, January 28th. Numis Securities Ltd reissued an “add” rating and set a GBX 905 ($13.10) price objective on shares of Big Yellow Group plc in a report on Wednesday, February 3rd. Berenberg Bank reissued a “hold” rating and set a GBX 700 ($10.13) price objective on shares of Big Yellow Group plc in a report on Tuesday, April 19th. Jefferies Group increased their price objective on shares of Big Yellow Group plc from GBX 654 ($9.46) to GBX 725 ($10.49) and gave the stock a “hold” rating in a report on Thursday, April 21st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 850 ($12.30) price objective on shares of Big Yellow Group plc in a report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Big Yellow Group plc presently has an average rating of “Hold” and a consensus price target of GBX 808.08 ($11.69).
Big Yellow Group PLC (Big Yellow) is a United Kingdom-based company engaged in the provision of self- storage and related services. Big Yellow operates from a platform of approximately 84 stores. The Company has a portfolio of approximately 73 Big Yellow stores and site, of which approximately 70 are open.