Baltic Classifieds Group (LON:BCG) Stock Price Down 19.1% After Analyst Downgrade

Baltic Classifieds Group PLC (LON:BCG)’s stock price dropped 19.1% during mid-day trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 360 to GBX 335. Berenberg Bank currently has a buy rating on the stock. Baltic Classifieds Group traded as low as GBX 173 and last traded at GBX 177.60. Approximately 206,849,844 shares traded hands during trading, an increase of 6,382% from the average daily volume of 3,191,313 shares. The stock had previously closed at GBX 219.50.

Several other brokerages have also recently weighed in on BCG. JPMorgan Chase & Co. upped their price target on Baltic Classifieds Group from GBX 194 to GBX 208 and gave the company an “underweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Baltic Classifieds Group to a “buy” rating and boosted their price objective for the company from GBX 366 to GBX 373 in a research note on Thursday, September 25th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 316.50.

Baltic Classifieds Group Trading Down 5.7%

The company has a quick ratio of 2.36, a current ratio of 2.05 and a debt-to-equity ratio of 13.70. The firm has a market capitalization of £840.98 million, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.43. The firm’s 50-day simple moving average is GBX 270.61 and its 200-day simple moving average is GBX 321.20.

About Baltic Classifieds Group

Baltic Classifieds Group (BCG) is the leading online classifieds group in the Baltics, which owns and operates twelve leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania. BCG’s online classifieds portfolio comprises four business lines – automotive, real estate, jobs & services and generalist.