Berendsen PLC (BRSN) Cut to “Underweight” at Barclays PLC
Berendsen PLC (LON:BRSN) was downgraded by investment analysts at Barclays PLC to an “underweight” rating in a research note issued to investors on Tuesday. They currently have a GBX 700 ($8.65) price objective on the stock, down from their previous price objective of GBX 911 ($11.25). Barclays PLC’s target price suggests a potential downside of 18.41% from the company’s previous close.
Several other research firms have also issued reports on BRSN. Peel Hunt restated an “add” rating and issued a GBX 951 ($11.75) price objective on shares of Berendsen PLC in a research note on Friday, March 3rd. HSBC Holdings plc lowered Berendsen PLC to a “hold” rating and dropped their price objective for the company from GBX 1,070 ($13.21) to GBX 940 ($11.61) in a research note on Friday, March 3rd. Citigroup Inc upgraded Berendsen PLC to a “neutral” rating and dropped their price objective for the company from GBX 1,000 ($12.35) to GBX 930 ($11.49) in a research note on Monday, February 13th. Stifel Nicolaus lowered Berendsen PLC to a “sell” rating in a research note on Tuesday, December 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Berendsen PLC from GBX 1,346 ($16.62) to GBX 1,249 ($15.43) and set an “overweight” rating on the stock in a research note on Monday, March 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of GBX 1,036.25 ($12.80).
Shares of Berendsen PLC (LON:BRSN) opened at 823.00 on Tuesday. The company has a 50-day moving average price of GBX 868.14 and a 200 day moving average price of GBX 982.96. The firm’s market cap is GBX 1.41 billion. Berendsen PLC has a 52 week low of GBX 751.50 and a 52 week high of GBX 1,371.00.
The company also recently announced a dividend, which will be paid on Friday, May 5th. Stockholders of record on Thursday, April 6th will be paid a dividend of GBX 22.50 ($0.28) per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a dividend yield of 2.73%. This is a positive change from Berendsen PLC’s previous dividend of $10.50.
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In other news, insider James Drummond bought 122,840 shares of the stock in a transaction dated Friday, March 3rd. The shares were bought at an average price of GBX 8 ($0.10) per share, for a total transaction of £9,827.20 ($12,136.84).
Berendsen PLC Company Profile
Berendsen plc is a United Kingdom-based company, which is engaged in textile service business. The Company develops and provides textile, hygiene and safety solutions. The Company operates through segments: Workwear, Facility, UK Flat Linen, Flat Linen outside the UK, and Clinical Solutions and Decontamination.
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