Canaccord Genuity Reiterates “Buy” Rating for Hastings Group (HSTG)
Hastings Group (LON:HSTG)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 250 ($3.27) target price on the stock. Canaccord Genuity’s price target indicates a potential upside of 15.74% from the stock’s previous close.
HSTG has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Hastings Group from GBX 250 ($3.27) to GBX 240 ($3.14) and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Berenberg Bank reissued a “buy” rating and set a GBX 265 ($3.46) price target on shares of Hastings Group in a research report on Friday, March 1st. Royal Bank of Canada reissued a “sector performer” rating on shares of Hastings Group in a research report on Tuesday, December 11th. Numis Securities reissued an “add” rating and set a GBX 220 ($2.87) price target on shares of Hastings Group in a research report on Thursday, February 28th. Finally, Goldman Sachs Group increased their price target on Hastings Group from GBX 202 ($2.64) to GBX 210 ($2.74) and gave the stock a “neutral” rating in a research report on Tuesday, March 12th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 231.20 ($3.02).
LON:HSTG traded down GBX 0.60 ($0.01) during trading hours on Wednesday, reaching GBX 216 ($2.82). 205,088 shares of the company were exchanged, compared to its average volume of 1,190,000. The company has a market capitalization of $1.43 billion and a P/E ratio of 10.91. Hastings Group has a 1-year low of GBX 169.50 ($2.21) and a 1-year high of GBX 292 ($3.82). The company has a debt-to-equity ratio of 39.03, a current ratio of 0.92 and a quick ratio of 0.23.
Hastings Group Holdings plc, together with its subsidiaries, underwrites general insurance products in the United Kingdom. It is involved in the underwriting and brokerage of car, van, bike, and home insurance under various brands, including Hastings Direct, Hastings PREMIER, Hastings ESSENTIAL, Hastings Direct SmartMiles, InsurePink, and People's Choice.
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