Severfield (LON:SFR) Trading 8.8% Higher – Here’s Why

Severfield plc (LON:SFR) shares were up 8.8% during trading on Friday . The stock traded as high as GBX 33 and last traded at GBX 32.20. 4,066,157 shares were traded during trading, an increase of 793% from the average daily volume of 455,432 shares. The stock had previously closed at GBX 29.60.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 40 price objective on shares of Severfield in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Severfield has a consensus rating of “Buy” and an average target price of GBX 44.

Severfield Stock Performance

The stock has a 50-day moving average of GBX 26.76 and a 200 day moving average of GBX 27.70. The stock has a market cap of £95.08 million, a PE ratio of -6.24 and a beta of 1.38. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 48.45.

Severfield (LON:SFR) last issued its earnings results on Wednesday, June 24th. The company reported GBX (12.03) earnings per share (EPS) for the quarter. Severfield had a negative return on equity of 22.06% and a negative net margin of 7.84%.The company had revenue of £454.25 million during the quarter. Equities analysts predict that Severfield plc will post 8.9704209 EPS for the current fiscal year.

About Severfield

Severfield is the largest specialist structural steelwork group in the UK, with a growing presence in India and Europe and a reputation for performance and innovation.

Operating on an international scale, Severfield is widely recognised for its iconic structures, engineering excellence, and unparalleled customer service.

We have the design, experience and engineering skills to serve a diverse range of market sectors, from education and hospitals to bridges and commercial offices.

We approach every project, from the highly technical to basic structural work, with the same level of safety, professionalism, commitment, care and customer service.

Our people make Severfield the success story it is today.