Electrocomponents plc (ECM) Hits New 12-Month High Following Analyst Upgrade
Electrocomponents plc (LON:ECM) hit a new 52-week high on Tuesday after Peel Hunt raised their price target on the stock from GBX 610 to GBX 650. Peel Hunt currently has an add rating on the stock. Electrocomponents plc traded as high as GBX 678.50 ($9.00) and last traded at GBX 673 ($8.93), with a volume of 1,743,359 shares trading hands. The stock had previously closed at GBX 638.50 ($8.47).
A number of other equities analysts have also recently commented on the company. Liberum Capital reaffirmed a “buy” rating and issued a GBX 660 ($8.75) target price on shares of Electrocomponents plc in a report on Monday, July 3rd. Jefferies Group LLC upped their price target on Electrocomponents plc from GBX 510 ($6.76) to GBX 530 ($7.03) and gave the stock a “hold” rating in a research report on Tuesday, July 4th. Credit Suisse Group raised their price objective on Electrocomponents plc from GBX 425 ($5.64) to GBX 520 ($6.90) and gave the stock an “underperform” rating in a research note on Tuesday, June 6th. Numis Securities Ltd raised their price objective on Electrocomponents plc from GBX 660 ($8.75) to GBX 705 ($9.35) and gave the stock an “add” rating in a research note on Tuesday. Finally, Shore Capital reaffirmed a “sell” rating on shares of Electrocomponents plc in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Electrocomponents plc has a consensus rating of “Hold” and an average price target of GBX 551.40 ($7.31).
The firm’s market cap is GBX 2.96 billion. The stock’s 50 day moving average price is GBX 629.11 and its 200-day moving average price is GBX 578.27.
About Electrocomponents plc
Electrocomponents plc is a service distributor. The Company’s segments include Northern Europe, Southern Europe, Central Europe, Asia Pacific (APAC) and Emerging Markets, and North America. Its Northern Europe’s hub is the United Kingdom, with associated local markets in Denmark, Norway, Sweden and Republic of Ireland.
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