SIG (LON:SHI) Stock Falls 2.2% – Here’s What Happened

Shares of SIG plc (LON:SHI) dropped 2.2% during trading on Thursday. The company traded as low as GBX 8.80 and last traded at GBX 8.90. 1,697,103 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 1,170,231 shares. The stock had previously closed at GBX 9.10.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHI. Peel Hunt reiterated a “buy” rating and issued a GBX 14 price target on shares of SIG in a research report on Tuesday, August 4th. Jefferies Financial Group boosted their price objective on shares of SIG from GBX 8.90 to GBX 9.60 and gave the company a “hold” rating in a report on Friday, August 21st. Finally, Deutsche Bank restated a “sell” rating and set a GBX 5 price objective on shares of SIG in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SIG has an average rating of “Hold” and an average price target of GBX 9.15.

SIG Stock Performance

The company has a debt-to-equity ratio of 597.00, a quick ratio of 1.10 and a current ratio of 1.36. The stock’s 50-day moving average is GBX 9.25 and its 200 day moving average is GBX 8.83. The firm has a market cap of £102.86 million, a P/E ratio of -2.02, a PEG ratio of 1.29 and a beta of 0.65.

Insiders Place Their Bets

In other SIG news, insider Simon Kesterton bought 200,000 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was purchased at an average cost of GBX 9 per share, with a total value of £18,000. Insiders bought 365,000 shares of company stock worth $3,285,000 in the last 90 days. Insiders own 1.22% of the company’s stock.

SIG Company Profile

SIG is a leading pan-European provider of specialist insulation and sustainable building products and solutions, differentiated through specialist knowledge, product mix and end markets. We connect over 75,000 customers with thousands of leading and specialist products and brands from our suppliers. We use our network of around 430 winning branches across local markets with superior customer service, specialist expertise and on-time delivery to add value to both our customers and suppliers.