Johnson Matthey PLC (JMAT) Trading Up 1.5% After Analyst Upgrade
Johnson Matthey PLC (LON:JMAT) rose 1.5% during mid-day trading on Wednesday after J P Morgan Chase & Co raised their price target on the stock from GBX 3,200 to GBX 3,400. J P Morgan Chase & Co currently has a neutral rating on the stock. Johnson Matthey PLC traded as high as GBX 3,400 ($44.70) and last traded at GBX 3,379 ($44.43). Approximately 656,288 shares were traded during trading, a decline of 17% from the average daily volume of 792,700 shares. The stock had previously closed at GBX 3,329 ($43.77).
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upgraded Johnson Matthey PLC to an “overweight” rating and boosted their price target for the company from GBX 3,000 ($39.44) to GBX 3,500 ($46.02) in a report on Thursday, June 29th. Citigroup Inc. reiterated a “buy” rating and issued a GBX 3,800 ($49.96) price target on shares of Johnson Matthey PLC in a report on Wednesday, August 30th. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 3,600 ($47.33) price target on shares of Johnson Matthey PLC in a report on Friday, June 30th. Barclays PLC upgraded Johnson Matthey PLC to an “overweight” rating and boosted their price target for the company from GBX 3,380 ($44.44) to GBX 3,450 ($45.36) in a report on Wednesday, July 26th. Finally, UBS AG initiated coverage on Johnson Matthey PLC in a report on Monday, August 21st. They issued a “sell” rating and a GBX 2,650 ($34.84) price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 3,500.27 ($46.02).
In related news, insider Jane Griffiths acquired 2,671 shares of Johnson Matthey PLC stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of GBX 2,786 ($36.63) per share, for a total transaction of £74,414.06 ($97,836.00). Also, insider Robert MacLeod acquired 12 shares of Johnson Matthey PLC stock in a transaction that occurred on Wednesday, September 20th. The shares were bought at an average price of GBX 2,955 ($38.85) per share, with a total value of £354.60 ($466.21). Insiders have purchased a total of 2,710 shares of company stock valued at $7,553,165 in the last 90 days.
The company’s market capitalization is GBX 6.54 billion. The stock’s 50-day moving average price is GBX 3,090.57 and its 200-day moving average price is GBX 2,990.08.
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About Johnson Matthey PLC
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