Connect Group (CNCT) Hits New 12-Month Low at $59.10

Connect Group PLC (LON:CNCT) shares hit a new 52-week low during trading on Thursday . The stock traded as low as GBX 59.10 ($0.83) and last traded at GBX 61.50 ($0.86), with a volume of 273111 shares. The stock had previously closed at GBX 62.40 ($0.87).

Several brokerages recently commented on CNCT. Shore Capital reaffirmed a “buy” rating on shares of Connect Group in a research report on Thursday, November 16th. Peel Hunt reaffirmed an “add” rating and issued a GBX 135 ($1.89) target price on shares of Connect Group in a research report on Monday, January 8th. FinnCap reaffirmed a “buy” rating and issued a GBX 154 ($2.16) target price on shares of Connect Group in a research report on Monday, December 4th. JPMorgan Chase & Co. raised their target price on Connect Group from GBX 144 ($2.02) to GBX 145 ($2.03) and gave the stock an “overweight” rating in a research report on Friday, October 27th. Finally, Numis Securities reaffirmed a “buy” rating and issued a GBX 100 ($1.40) target price (down from GBX 135 ($1.89)) on shares of Connect Group in a research report on Tuesday, January 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of GBX 148.17 ($2.08).

The firm has a market cap of $152.56 and a P/E ratio of 567.27.

In related news, insider Mark Cashmore acquired 38,100 shares of the company’s stock in a transaction on Monday, December 18th. The stock was purchased at an average cost of GBX 105 ($1.47) per share, for a total transaction of £40,005 ($56,092.26). Also, insider Jonathan Bunting sold 45,972 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of GBX 117 ($1.64), for a total value of £53,787.24 ($75,416.77).

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Connect Group Company Profile

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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