Essentra (LON:ESNT) Trading Up 6% – Here’s What Happened

Shares of Essentra plc (LON:ESNT) were up 6% during mid-day trading on Wednesday . The stock traded as high as GBX 87.30 and last traded at GBX 86.90. Approximately 13,863,217 shares changed hands during trading, an increase of 426% from the average daily volume of 2,636,721 shares. The stock had previously closed at GBX 82.

Analyst Ratings Changes

Several equities research analysts have issued reports on ESNT shares. Royal Bank Of Canada cut their price objective on shares of Essentra to GBX 130 and set an “outperform” rating for the company in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Essentra from GBX 150 to GBX 100 and set a “hold” rating for the company in a research report on Monday, April 13th. Jefferies Financial Group restated a “buy” rating and set a GBX 130 price objective on shares of Essentra in a research report on Wednesday. Finally, Berenberg Bank restated a “buy” rating and set a GBX 160 price objective on shares of Essentra in a research report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 150.

Essentra Trading Up 6.0%

The company has a debt-to-equity ratio of 47.67, a current ratio of 2.20 and a quick ratio of 0.50. The business’s 50-day moving average price is GBX 87.73 and its two-hundred day moving average price is GBX 95.12. The company has a market capitalization of £246.72 million, a price-to-earnings ratio of 124.14, a P/E/G ratio of 3.84 and a beta of 0.80.

Essentra (LON:ESNT) last released its quarterly earnings results on Tuesday, March 17th. The company reported GBX 6.10 earnings per share for the quarter. Essentra had a net margin of 0.70% and a return on equity of 0.79%. Research analysts predict that Essentra plc will post 524.137931 earnings per share for the current year.

Insider Buying and Selling at Essentra

In other Essentra news, insider Scott Fawcett purchased 17,483 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was bought at an average cost of GBX 86 per share, for a total transaction of £15,035.38. Also, insider Rowan Baker purchased 9,477 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was acquired at an average price of GBX 84 per share, with a total value of £7,960.68. Insiders have purchased a total of 91,194 shares of company stock valued at $8,208,359 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Essentra Company Profile

Essentra plc is a leading global provider of essential components and solutions, focusing on the manufacture and distribution of plastic injection moulded, vinyl dip moulded and metal items.

Headquartered in the United Kingdom, Essentra’s global network extends to 28 countries worldwide and includes c.3,000 employees, 14 manufacturing facilities, 26 distribution centres and 37 sales & service centres serving c.64,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics, medical and renewable energy.