Canaccord Genuity Downgrades SIG plc (SHI) to Hold
SIG plc (LON:SHI) was downgraded by Canaccord Genuity to a “hold” rating in a note issued to investors on Monday. They currently have a GBX 99 ($1.24) price target on the stock, down from their previous price target of GBX 130 ($1.62). Canaccord Genuity’s price target would suggest a potential upside of 11.05% from the stock’s current price.
A number of other brokerages have also issued reports on SHI. Goodbody reissued a “hold” rating on shares of SIG plc in a research note on Friday, September 9th. Deutsche Bank AG reissued a “hold” rating on shares of SIG plc in a research note on Wednesday, September 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 120 ($1.50) target price on shares of SIG plc in a research note on Friday, November 11th. Jefferies Group lowered shares of SIG plc to a “hold” rating and decreased their target price for the company from GBX 140 ($1.75) to GBX 115 ($1.44) in a research note on Friday, November 11th. Finally, Peel Hunt reissued a “hold” rating on shares of SIG plc in a research note on Friday, November 11th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. SIG plc currently has an average rating of “Hold” and a consensus target price of GBX 129.08 ($1.61).
SIG plc (LON:SHI) opened at 90.70 on Monday. SIG plc has a 52-week low of GBX 88.20 and a 52-week high of GBX 149.80. The stock’s market capitalization is GBX 536.36 million. The firm has a 50-day moving average of GBX 111.80 and a 200-day moving average of GBX 117.73.
In other news, insider Mel Ewell bought 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were purchased at an average price of GBX 90 ($1.12) per share, for a total transaction of £9,900 ($12,368.82).
SIG plc Company Profile
SIG plc is a United Kingdom-based distributor of building products in Europe. The Company is engaged in the supply of specialist products to construction and related markets. It operates in two segments: UK & Ireland and Mainland Europe. It focuses its activities into approximately three product sectors: Insulation and Energy Management; Exteriors, and Interiors.
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