HSBC Downgrades FirstGroup plc (FGP) to Reduce
FirstGroup plc (LON:FGP) was downgraded by investment analysts at HSBC to a “reduce” rating in a research note issued to investors on Thursday. They presently have a GBX 95 ($1.19) price objective on the transport operator’s stock, down from their prior price objective of GBX 105 ($1.31). HSBC’s target price indicates a potential downside of 7.45% from the company’s previous close.
Several other brokerages have also recently issued reports on FGP. Canaccord Genuity assumed coverage on FirstGroup plc in a report on Monday, September 19th. They set a “hold” rating and a GBX 110 ($1.37) price objective on the stock. JPMorgan Chase & Co. upped their price objective on FirstGroup plc from GBX 140 ($1.75) to GBX 141 ($1.76) and gave the stock an “overweight” rating in a report on Wednesday, November 16th. Barclays PLC decreased their price objective on FirstGroup plc from GBX 128 ($1.60) to GBX 120 ($1.50) and set an “equal weight” rating on the stock in a report on Wednesday, November 16th. Deutsche Bank AG assumed coverage on FirstGroup plc in a report on Wednesday, September 21st. They set a “sell” rating and a GBX 94 ($1.17) price objective on the stock. Finally, Shore Capital reaffirmed a “buy” rating on shares of FirstGroup plc in a report on Friday, November 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of GBX 118.23 ($1.48).
FirstGroup plc (LON:FGP) opened at 101.90 on Thursday. The stock’s market cap is GBX 1.23 billion. The firm’s 50-day moving average price is GBX 107.32 and its 200 day moving average price is GBX 104.74. FirstGroup plc has a 12 month low of GBX 79.55 and a 12 month high of GBX 116.10.
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In other news, insider Tim O’Toole purchased 7,723 shares of the company’s stock in a transaction dated Friday, November 25th. The shares were acquired at an average price of GBX 102 ($1.27) per share, with a total value of £7,877.46 ($9,841.90).
FirstGroup plc Company Profile
FirstGroup plc is a transport operator in the United Kingdom and North America. The Company operates through five segments: First Student, First Transit, Greyhound, First Bus and First Rail. The First Student is a provider of student transportation in North America and operates a fleet of over 47,000 school buses, with over six million student journeys per school day.
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