Essentra (LON:ESNT) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Essentra plc (LON:ESNT)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 83.71 and traded as low as GBX 82.60. Essentra shares last traded at GBX 82.80, with a volume of 245,793 shares.

Analyst Ratings Changes

ESNT has been the topic of several research reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 160 price target on shares of Essentra in a report on Thursday, March 19th. Royal Bank Of Canada cut their price objective on shares of Essentra to GBX 130 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 100 target price on shares of Essentra in a research report on Thursday, May 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 130 price target on shares of Essentra in a research report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 150.

Essentra Trading Down 0.1%

The firm has a market cap of £232.15 million, a PE ratio of 117.00, a price-to-earnings-growth ratio of 3.84 and a beta of 0.83. The company has a 50-day simple moving average of GBX 83.69 and a 200 day simple moving average of GBX 92.07. The company has a current ratio of 2.20, a quick ratio of 0.50 and a debt-to-equity ratio of 47.67.

Insiders Place Their Bets

In other news, insider Rowan Baker purchased 9,477 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of GBX 84 per share, with a total value of £7,960.68. Also, insider Scott Fawcett purchased 17,483 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were purchased at an average price of GBX 86 per share, for a total transaction of £15,035.38. Insiders have purchased 29,323 shares of company stock worth $2,498,098 over the last three months. 0.52% of the stock is currently owned by insiders.

About Essentra

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 27 countries worldwide and includes c.3,000 employees, 14 manufacturing facilities, 25 distribution centres and 35 sales & service centres serving c.76,000 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.