Barclays Lowers Marks and Spencer Group (LON:MKS) Price Target to GBX 265

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Marks and Spencer Group (LON:MKS) had its price objective reduced by Barclays from GBX 290 ($3.79) to GBX 265 ($3.46) in a report issued on Friday, Stock Target Advisor reports. They currently have an overweight rating on the retailer’s stock.

Several other brokerages have also commented on MKS. Morgan Stanley reissued an equal weight rating and set a GBX 230 ($3.01) price objective on shares of Marks and Spencer Group in a research report on Monday, August 5th. Berenberg Bank lowered their price objective on Marks and Spencer Group from GBX 250 ($3.27) to GBX 160 ($2.09) and set a sell rating for the company in a research report on Monday, September 30th. HSBC raised their price objective on Marks and Spencer Group from GBX 150 ($1.96) to GBX 155 ($2.03) and gave the company a reduce rating in a research report on Friday. Goldman Sachs Group started coverage on Marks and Spencer Group in a research report on Monday, September 2nd. They set a sell rating and a GBX 170 ($2.22) price objective for the company. Finally, Shore Capital reissued a house stock rating on shares of Marks and Spencer Group in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of GBX 215.73 ($2.82).

Marks and Spencer Group stock traded up GBX 4.10 ($0.05) on Friday, hitting GBX 177.55 ($2.32). 16,122,039 shares of the stock traded hands, compared to its average volume of 7,590,000. The company has a current ratio of 0.67, a quick ratio of 0.27 and a debt-to-equity ratio of 66.87. The firm has a market cap of $3.41 billion and a P/E ratio of 84.55. The business’s fifty day simple moving average is GBX 184.24 and its 200 day simple moving average is GBX 211.06. Marks and Spencer Group has a 1 year low of GBX 161.35 ($2.11) and a 1 year high of GBX 315 ($4.12).

The business also recently declared a dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 14th will be given a GBX 3.90 ($0.05) dividend. This represents a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, November 14th. Marks and Spencer Group’s dividend payout ratio is presently 6.67%.

In related news, insider Archie Norman purchased 55,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was purchased at an average price of GBX 180 ($2.35) per share, with a total value of £99,000 ($129,361.03).

Marks and Spencer Group Company Profile

Marks and Spencer Group plc operates various retail stores. It offers food products; and womenswear, menswear, kids wear, lingerie, and beauty and home products through its stores and online. The company operates 1463 stores, including 253 owned and 383 franchise Simply Food stores; and 343 full-line and outlet stores in the United Kingdom.

Further Reading: Inverted Yield Curve

Analyst Recommendations for Marks and Spencer Group (LON:MKS)

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