Connect Group (CNCT) Receives “Add” Rating from Peel Hunt
A number of other research firms also recently commented on CNCT. FinnCap reissued a buy rating and issued a GBX 154 ($2.09) target price on shares of Connect Group in a report on Thursday, October 26th. Shore Capital restated a buy rating on shares of Connect Group in a research report on Thursday, October 26th. Finally, JPMorgan Chase & Co. raised their price target on Connect Group from GBX 144 ($1.95) to GBX 145 ($1.97) and gave the company an overweight rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Connect Group presently has a consensus rating of Buy and a consensus price target of GBX 157.80 ($2.14).
Shares of Connect Group (CNCT) opened at GBX 110 ($1.49) on Monday. Connect Group has a fifty-two week low of GBX 88 ($1.19) and a fifty-two week high of GBX 159.74 ($2.17). The company has a market capitalization of $272.43 and a price-to-earnings ratio of 1,000.00.
The company also recently declared a dividend, which will be paid on Friday, February 9th. Stockholders of record on Thursday, January 11th will be given a GBX 6.70 ($0.09) dividend. The ex-dividend date is Thursday, January 11th. This represents a dividend yield of 6.09%. This is a boost from Connect Group’s previous dividend of $3.10.
In related news, insider David Bauernfeind acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was purchased at an average price of GBX 99 ($1.34) per share, for a total transaction of £19,800 ($26,851.10). Also, insider Jonathan Bunting sold 45,972 shares of Connect Group stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of GBX 117 ($1.59), for a total value of £53,787.24 ($72,941.74).
About Connect Group
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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