Connect Group PLC (CNCT) Receives Average Rating of “Buy” from Brokerages
Shares of Connect Group PLC (LON:CNCT) have been given a consensus rating of “Buy” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 157.80 ($2.11).
Several equities analysts recently weighed in on CNCT shares. FinnCap restated a “buy” rating and set a GBX 154 ($2.06) price target on shares of Connect Group in a research report on Tuesday, September 26th. Shore Capital restated a “buy” rating on shares of Connect Group in a research report on Thursday, October 26th. JPMorgan Chase & Co. increased their price target on shares of Connect Group from GBX 144 ($1.93) to GBX 145 ($1.94) and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, Peel Hunt restated an “add” rating and set a GBX 135 ($1.81) price target on shares of Connect Group in a research report on Thursday, December 21st.
Connect Group (CNCT) traded down GBX 0.20 ($0.00) on Monday, reaching GBX 113 ($1.51). 314,478 shares of the company traded hands, compared to its average volume of 102,733. The company has a market capitalization of $279.85 and a price-to-earnings ratio of 1,027.27. Connect Group has a one year low of GBX 88 ($1.18) and a one year high of GBX 159.74 ($2.14).
In related news, insider David Bauernfeind bought 20,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average cost of GBX 99 ($1.32) per share, with a total value of £19,800 ($26,474.13). Also, insider Mark Cashmore bought 38,100 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average cost of GBX 105 ($1.40) per share, for a total transaction of £40,005 ($53,489.77).
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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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