Eleco (LON:ELCO) Shares Cross Above 50 Day Moving Average – Here’s Why

Eleco Plc (LON:ELCO)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 152.02 and traded as high as GBX 152.50. Eleco shares last traded at GBX 151, with a volume of 85,007 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 176 price target on shares of Eleco in a report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Eleco has a consensus rating of “Buy” and a consensus target price of GBX 176.

Eleco Trading Up 6.3%

The firm has a market capitalization of £124.98 million, a PE ratio of 33.56 and a beta of 0.82. The company has a debt-to-equity ratio of 4.79, a current ratio of 1.01 and a quick ratio of 1.23. The company has a fifty day moving average of GBX 152.02 and a 200-day moving average of GBX 158.06.

Eleco (LON:ELCO) last issued its earnings results on Tuesday, September 16th. The company reported GBX 2 earnings per share for the quarter. Eleco had a return on equity of 10.50% and a net margin of 9.46%. On average, sell-side analysts anticipate that Eleco Plc will post 6 earnings per share for the current fiscal year.

About Eleco