Pinewood Technologies Group (LON:PINE) Shares Up 23.4% – Still a Buy?

Pinewood Technologies Group PLC (LON:PINE)’s share price traded up 23.4% during mid-day trading on Friday . The company traded as high as GBX 495 and last traded at GBX 475.73. 1,535,574 shares were traded during mid-day trading, an increase of 29% from the average session volume of 1,187,739 shares. The stock had previously closed at GBX 385.50.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank boosted their price objective on Pinewood Technologies Group from GBX 700 to GBX 725 and gave the company a “buy” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 725.

Pinewood Technologies Group Price Performance

The stock’s 50 day moving average is GBX 357.75 and its two-hundred day moving average is GBX 420.74. The firm has a market cap of £544.35 million, a P/E ratio of 7.62 and a beta of 0.56.

Insider Buying and Selling

In related news, insider William Berman bought 13,921 shares of the company’s stock in a transaction on Monday, December 1st. The stock was bought at an average cost of GBX 357 per share, with a total value of £49,697.97. 47.43% of the stock is currently owned by corporate insiders.

About Pinewood Technologies Group

Pendragon PLC is one of the UK’s leading automotive retailers with over 120 locations selling new and used vehicles alongside expert aftercare services.

Operating in the UK under the brands of Evans Halshaw, Stratstone and CarStore the Group also has additional businesses including Pinewood for dealership management systems, Pendragon Vehicle Management for fleet and leasing and Quickco for wholesale vehicle parts.

Please visit www.pendragonplc.com where Pendragon discloses additional information about the company, its business and its results of operations.