Restaurant Group PLC (RTN) Coverage Initiated at HSBC
Equities researchers at HSBC assumed coverage on shares of Restaurant Group PLC (LON:RTN) in a research report issued to clients and investors on Monday. The brokerage set a “reduce” rating and a GBX 290 ($3.60) price target on the stock. HSBC’s price target points to a potential downside of 13.84% from the company’s previous close.
A number of other research firms have also issued reports on RTN. Panmure Gordon reaffirmed a “hold” rating and issued a GBX 335 ($4.16) target price on shares of Restaurant Group PLC in a research note on Friday, August 12th. Peel Hunt upped their target price on Restaurant Group PLC from GBX 270 ($3.35) to GBX 380 ($4.71) and gave the company a “hold” rating in a research note on Friday, August 12th. Barclays PLC upped their target price on Restaurant Group PLC from GBX 321 ($3.98) to GBX 390 ($4.84) and gave the company an “equal weight” rating in a research note on Wednesday, November 23rd. N+1 Singer raised Restaurant Group PLC to a “buy” rating and upped their target price for the company from GBX 280 ($3.47) to GBX 480 ($5.95) in a research note on Monday, September 26th. Finally, Canaccord Genuity reduced their target price on Restaurant Group PLC from GBX 550 ($6.82) to GBX 545 ($6.76) and set a “buy” rating on the stock in a research note on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Restaurant Group PLC has an average rating of “Hold” and an average price target of GBX 434 ($5.38).
Restaurant Group PLC (LON:RTN) opened at 334.30 on Monday. The stock’s market capitalization is GBX 668.93 million. Restaurant Group PLC has a 52-week low of GBX 229.85 and a 52-week high of GBX 692.00. The stock’s 50 day moving average price is GBX 368.34 and its 200 day moving average price is GBX 356.07.
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In related news, insider Debbie Howard Hewitt purchased 7,012 shares of the stock in a transaction that occurred on Monday, October 17th. The stock was purchased at an average cost of GBX 355 ($4.40) per share, for a total transaction of £24,892.60 ($30,880.29).
Restaurant Group PLC Company Profile
The Restaurant Group plc is a United Kingdom-based Company, which operates over 470 restaurants and pub restaurants. The Company’s portfolio covers a range of categories, including table service, counter service, sandwich shops, pubs and bars. The Company’s principal trading brands include Frankie & Benny’s, Chiquito and Coast to Coast.
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