SEGRO (OTCMKTS:SEGXF) Shares Gap Up – Still a Buy?

SEGRO (OTCMKTS:SEGXF) gapped up before the market opened on Wednesday . The stock had previously closed at $9.65, but opened at $11.45. SEGRO shares last traded at $11.45, with a volume of 335 shares trading hands.

More SEGRO News

Here are the key news stories impacting SEGRO this week:

• Positive Sentiment: SEGRO shares are near a new 52-week high, reflecting investor optimism that the Prologis interest could unlock a takeover premium or improve valuation. SEGRO (OTCMKTS:SEGXF) Hits New 52-Week High – Should You Buy?
• Positive Sentiment: Prologis publicly confirmed a proposed all-share bid for SEGRO, highlighting strategic logic for combining two major logistics property platforms and raising hopes of a higher offer. SEGRO rejects £12.6bn all-share bid from Prologis
• Positive Sentiment: Analysts said Prologis may be able to come back with a higher offer to secure a deal, which keeps takeover speculation alive and supports sentiment around SEGRO. Prologis ‘clearly’ can make a higher offer to secure Segro deal, analysts say

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SEGXF shares. Zacks Research upgraded SEGRO to a “hold” rating in a research report on Wednesday, March 11th. UBS Group downgraded shares of SEGRO from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group upgraded shares of SEGRO from a “buy” rating to a “buy” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

SEGRO Price Performance

The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $9.80 and a 200 day moving average price of $9.84.

About SEGRO

SEGRO PLC (OTCMKTS:SEGXF) is a leading real estate investment trust specializing in the ownership, development and management of modern warehousing, light industrial and urban logistics properties. As a FTSE 100 company, SEGRO’s portfolio encompasses a broad range of distribution centres, last-mile facilities and multi-let industrial estates designed to support high-growth sectors such as e-commerce, retail and manufacturing.

The company traces its origins to the Slough Trading Company, established in 1920, and underwent a major rebranding in 2009 to become SEGRO, reflecting its pan-European ambitions.