SIG (LON:SHI) Trading 10.8% Higher – Here’s Why

Shares of SIG plc (LON:SHI) were up 10.8% during trading on Wednesday . The stock traded as high as GBX 8.75 and last traded at GBX 8.75. 662,178 shares changed hands during trading, a decline of 43% from the average daily volume of 1,152,952 shares. The stock had previously closed at GBX 7.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SHI shares. Jefferies Financial Group lowered their price objective on shares of SIG from GBX 9 to GBX 8.90 and set a “hold” rating for the company in a research report on Tuesday, May 12th. Royal Bank Of Canada reduced their target price on shares of SIG from GBX 8.70 to GBX 8 and set a “sector perform” rating for the company in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of GBX 8.45.

SIG Stock Up 10.8%

The firm’s 50-day simple moving average is GBX 8.21 and its 200 day simple moving average is GBX 8.99. The company has a debt-to-equity ratio of 499.09, a quick ratio of 1.10 and a current ratio of 1.52. The stock has a market capitalization of £101.13 million, a P/E ratio of -1.59, a PEG ratio of 1.29 and a beta of 0.69.

About SIG

SIG is a leading pan-European provider of specialist insulation and sustainable building products and solutions, differentiated through specialist knowledge, product mix and end markets.

We connect over 75,000 customers with thousands of leading and specialist products and brands from our suppliers. We use our network of around 430 winning branches across local markets with superior customer service, specialist expertise and on-time delivery to add value to both our customers and suppliers.