Connect Group PLC (LON:CNCT) had its target price cut by equities research analysts at J P Morgan Chase & Co from GBX 152 ($1.97) to GBX 144 ($1.87) in a report issued on Tuesday, July 25th, MarketBeat reports. The brokerage presently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 44.00% from the company’s previous close.
Several other equities analysts have also recently weighed in on CNCT. Peel Hunt reissued an “add” rating and issued a GBX 167 ($2.17) target price on shares of Connect Group PLC in a research note on Tuesday, April 25th. Liberum Capital reissued a “buy” rating and issued a GBX 170 ($2.21) target price on shares of Connect Group PLC in a research note on Monday, May 1st. FinnCap reissued a “buy” rating and issued a GBX 187 ($2.43) target price on shares of Connect Group PLC in a research note on Monday, July 24th. Shore Capital raised shares of Connect Group PLC to a “buy” rating in a research note on Thursday, July 20th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 185 ($2.40) target price on shares of Connect Group PLC in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 157.60 ($2.05).
Shares of Connect Group PLC (LON CNCT) traded down 2.20% during trading on Tuesday, hitting GBX 100.00. 62,684 shares of the company were exchanged. The company’s 50-day moving average price is GBX 107.11 and its 200 day moving average price is GBX 125.58. Connect Group PLC has a 12 month low of GBX 96.00 and a 12 month high of GBX 168.00. The stock’s market cap is GBX 245.00 million.
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In other news, insider Mark Cashmore bought 108,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was bought at an average price of GBX 110 ($1.43) per share, with a total value of £118,800 ($154,225.63).
Connect Group PLC Company Profile
Connect Group PLC is a United Kingdom-based distribution company. The Company’s segments include Connect News & Media: News Distribution (Smiths News); Connect News & Media: Media (DMD); Connect Parcel Freight (Tuffnells); and Connect Books (Bertrams, Dawson Books and Wordery). Smiths News segment distributes newspapers and magazines to approximately 30,000 retailers across England and Wales from over 40 distribution centers.
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