HSBC (LON:HSBA) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high on Tuesday . The company traded as high as GBX 1,417.80 and last traded at GBX 1,416.40, with a volume of 146727625 shares. The stock had previously closed at GBX 1,384.60.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HSBA. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a report on Friday, May 8th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,120 price objective on shares of HSBC in a research report on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,419 price target on shares of HSBC in a research note on Tuesday, May 5th. Finally, Shore Capital Group upgraded shares of HSBC to a “hold” rating and lifted their price target for the company from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Stock Up 1.8%

The company’s fifty day simple moving average is GBX 1,342.01 and its 200 day simple moving average is GBX 1,258.04. The firm has a market capitalization of £241.60 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58.

Insider Activity at HSBC

In other news, insider Pam Kaur bought 2,345 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of GBX 1,340 per share, for a total transaction of £31,423. 0.14% of the stock is currently owned by insiders.

HSBC Company Profile