Baltic Classifieds Group (LON:BCG) Trading Down 15.3% After Analyst Downgrade

Shares of Baltic Classifieds Group PLC (LON:BCG) dropped 15.3% during trading on Friday after Berenberg Bank lowered their price target on the stock from GBX 360 to GBX 335. Berenberg Bank currently has a buy rating on the stock. Baltic Classifieds Group traded as low as GBX 168 and last traded at GBX 186. Approximately 22,166,805 shares traded hands during trading, an increase of 820% from the average daily volume of 2,408,758 shares. The stock had previously closed at GBX 219.50.

A number of other brokerages have also commented on BCG. Deutsche Bank Aktiengesellschaft raised shares of Baltic Classifieds Group to a “buy” rating and increased their price objective for the stock from GBX 366 to GBX 373 in a report on Thursday, September 25th. JPMorgan Chase & Co. increased their price target on shares of Baltic Classifieds Group from GBX 194 to GBX 208 and gave the company an “underweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 316.50.

Baltic Classifieds Group Stock Performance

The stock’s 50 day moving average is GBX 270.61 and its two-hundred day moving average is GBX 320.89. The firm has a market capitalization of £840.98 million, a P/E ratio of 18.86, a P/E/G ratio of 1.62 and a beta of 1.43. The company has a debt-to-equity ratio of 13.70, a current ratio of 2.05 and a quick ratio of 2.36.

About Baltic Classifieds Group

Baltic Classifieds Group (BCG) is the leading online classifieds group in the Baltics, which owns and operates twelve leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania. BCG’s online classifieds portfolio comprises four business lines – automotive, real estate, jobs & services and generalist.