Electrocomponents plc (LON:ECM) was upgraded by investment analysts at Barclays PLC to an “equal weight” rating in a research report issued to clients and investors on Thursday, May 11th, MarketBeat Ratings reports. The firm presently has a GBX 567 ($7.17) target price on the stock, up from their previous target price of GBX 289 ($3.66). Barclays PLC’s price objective suggests a potential downside of 5.42% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. Peel Hunt increased their price objective on shares of Electrocomponents plc from GBX 515 ($6.51) to GBX 530 ($6.70) and gave the company an “add” rating in a report on Thursday, April 6th. HSBC Holdings plc increased their price objective on shares of Electrocomponents plc from GBX 520 ($6.58) to GBX 550 ($6.96) and gave the company a ” buy” rating in a report on Wednesday, April 12th. Shore Capital reiterated a “sell” rating on shares of Electrocomponents plc in a report on Thursday, April 6th. Liberum Capital reiterated a “buy” rating and issued a GBX 500 ($6.33) price objective on shares of Electrocomponents plc in a report on Wednesday, April 12th. Finally, Numis Securities Ltd cut shares of Electrocomponents plc to a “hold” rating and increased their price objective for the company from GBX 420 ($5.31) to GBX 500 ($6.33) in a report on Thursday, January 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Electrocomponents plc has a consensus rating of “Hold” and an average target price of GBX 509.11 ($6.44).
Shares of Electrocomponents plc (ECM) opened at 599.50 on Thursday. Electrocomponents plc has a one year low of GBX 236.40 and a one year high of GBX 619.00. The firm has a 50-day moving average price of GBX 563.51 and a 200-day moving average price of GBX 501.78. The stock’s market cap is GBX 2.64 billion.
The company also recently announced a dividend, which will be paid on Wednesday, July 26th. Investors of record on Thursday, June 15th will be issued a GBX 7.30 ($0.09) dividend. This represents a yield of 1.33%. The ex-dividend date is Thursday, June 15th. This is an increase from Electrocomponents plc’s previous dividend of $5.00.
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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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