GKN plc (LON:GKN)‘s stock had its “buy” rating restated by investment analysts at Beaufort Securities in a research note issued to investors on Friday, MarketBeat.com reports.
In other news, insider Sclater,Jos bought 7,792 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were acquired at an average price of GBX 255 ($3.94) per share, for a total transaction of £19,869.60 ($30,672.43). Also, insider Reynolds Smith,Andrew sold 168,353 shares of GKN plc stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of GBX 284 ($4.38), for a total value of £478,122.52 ($738,071.19).
A number of other analysts also recently issued reports on GKN. Credit Suisse reiterated an “outperform” rating and issued a GBX 410 ($6.33) target price on shares of GKN plc in a report on Wednesday, July 1st. Investec restated a “buy” rating and set a GBX 410 ($6.33) price objective on shares of GKN plc in a report on Thursday, July 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 426 ($6.58) target price on shares of GKN plc in a report on Tuesday, July 7th. RBC Capital reissued a “sector perform” rating and issued a GBX 330 ($5.09) price target on shares of GKN plc in a research report on Friday, July 10th. Finally, Numis Securities Ltd reaffirmed an “add” rating and set a GBX 400 ($6.17) target price on shares of GKN plc in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. GKN plc has an average rating of “Buy” and a consensus target price of GBX 368.94 ($5.70).
Shares of GKN plc (LON:GKN) traded up 2.09% during trading on Friday, hitting GBX 293.50. 7,402,048 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of GBX 275.95 and a 200-day moving average price of GBX 321.58. GKN plc has a one year low of GBX 248.56 and a one year high of GBX 389.00. The stock’s market cap is GBX 4.83 billion.
GKN plc is a worldwide engineering business, participated in the design, fabrication and service of systems and components for original equipment manufacturers. The Company operates in four segments: Aerospace, Driveline, Powder Metallurgy and Land Systems. Its Aerospace section is a supplier of engine products and aerostructures and systems to aerospace sector. Its Driveline is a supplier of alternatives and automotive driveline systems to the vehicle makers. Its Powder Metallurgy is a manufacturer of sintered components and a producer of metal powder. Its Land Systems is a provider of power management services and products for industrial, building, mining and agricultural equipment. Its other companies consist of GKN Zhongyuan Cylinder Lining Co Lt
Fundies look very strong forward P/E to 2016 is a miserly 10.7, whereas historic P/E norm is around the mid 20s. Stock adverslry affected by the VW fiddling news aswel. Looks far to cheap and oversold to me, plenty of upside here imo.
Exactly and totally agree with you. Yet another example of irrational or perhaps intentional manipulation of a share price. This kind of thing happens all the time in various sectors, associating a link with a company making news headlines for the wrong reasons.
In my opinion today's share drop in GKN makes no sense. Why should the misfortunes of one car manufacturer affect GKN. Will the public buy less cars? No. Surely GKN is a global supplier to all the car manufacturers with their advanced driveline technology etc. If someone buys a Ford instead of a Volkswagen I'm sure it must have the same GKN bits inside. Feel free to tell me if I'm talking rubbish, I'm just puzzled by these irrational moves. Before this Volkswagen debacle I had the impression that automotive sales at least in Europe were going rather well.
I've learn't not to take much notice of these so called "expert" analysts and don''t generally trust them as I believe a few are attempting to manipulate prices. I had to laugh at the time of one of them in March 2014 from Barclays justifying an ASC target price of £80 when it was already on a lofty rating with a price of £60 at the time of the forecast. Look where the price is now - £26. Plus you have the irrational behaviour of those influencing market indexes, one moment it's concerns about rising US interest rates then when the authorities don't indicate a rise it switches to concerns about the global economy because US rates will not rise in the short-term.
Onto GKN. The market hasn't really liked this share much usually resulting in a P/E lower than its peers. I think the main concern is that GKN has still to address its pension fund deficit. I do like the emphasis though of moving more and more into the civil aircraft business sector as I think this will be a growth area for years to come and compensate for other cyclical segments they operate in.
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