RS Group (LON:RS1) Trading 8.3% Higher – Here’s Why

RS Group plc (LON:RS1) shares traded up 8.3% on Wednesday . The company traded as high as GBX 662.50 and last traded at GBX 650.50. 9,092,263 shares changed hands during trading, a decline of 18% from the average session volume of 11,082,978 shares. The stock had previously closed at GBX 600.50.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of RS Group from GBX 770 to GBX 780 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and set a GBX 675 price target on shares of RS Group in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a GBX 700 price target on shares of RS Group in a research note on Thursday. UBS Group reissued a “neutral” rating and set a GBX 620 price target on shares of RS Group in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 700 price target on shares of RS Group in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 692.14.

RS Group Stock Performance

The stock has a market cap of £3.18 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.85 and a beta of 1.35. The stock’s fifty day moving average is GBX 599.17 and its 200-day moving average is GBX 624.16. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 39.74.

RS Group (LON:RS1) last issued its quarterly earnings data on Wednesday, May 20th. The company reported GBX 38.70 earnings per share (EPS) for the quarter. The firm had revenue of GBX 288.11 billion during the quarter. RS Group had a net margin of 5.49% and a return on equity of 11.47%.

RS Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About RS Group

RS Group plc is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.

We operate in 36 markets, stock over 800,000 technical and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably.