Citigroup Inc. upgraded shares of Electrocomponents plc (LON:ECM) to a neutral rating in a research report report published on Wednesday. Citigroup Inc. currently has GBX 375 ($4.57) price objective on the stock, up from their prior price objective of GBX 185 ($2.25).
Several other brokerages have also recently commented on ECM. Credit Suisse Group AG upped their target price on Electrocomponents plc from GBX 250 ($3.05) to GBX 300 ($3.66) and gave the company an underperform rating in a report on Tuesday, September 20th. Peel Hunt upped their target price on Electrocomponents plc from GBX 260 ($3.17) to GBX 315 ($3.84) and gave the company a hold rating in a report on Thursday, September 15th. Numis Securities Ltd cut Electrocomponents plc to an add rating and increased their price target for the stock from GBX 315 ($3.84) to GBX 350 ($4.27) in a report on Thursday, September 15th. Finally, Shore Capital restated a sell rating on shares of Electrocomponents plc in a report on Tuesday, June 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Electrocomponents plc currently has an average rating of Hold and an average price target of GBX 305.44 ($3.72).
Electrocomponents plc (LON:ECM) opened at 360.10 on Wednesday. The company has a 50 day moving average of GBX 335.47 and a 200 day moving average of GBX 290.36. The company’s market capitalization is GBX 1.58 billion. Electrocomponents plc has a 1-year low of GBX 200.70 and a 1-year high of GBX 381.00.
In related news, insider Guerra,Karen purchased 8,500 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was acquired at an average cost of GBX 293 ($3.57) per share, with a total value of £24,905 ($30,353.44).
About Electrocomponents plc
Electrocomponents plc is a service distributor. The Company’s segments include Northern Europe, Southern Europe, Central Europe, Asia Pacific (APAC) and Emerging Markets, and North America. Its Northern Europe’s hub is the United Kingdom, with associated local markets in Denmark, Norway, Sweden and Republic of Ireland.
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