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Royal Mail (LON:RMG) was downgraded by equities researchers at HSBC to a “hold” rating in a report released on Friday, June 7th, ThisIsMoney.Co.Uk reports. They presently have a GBX 216 ($2.82) target price on the stock, down from their prior target price of GBX 300 ($3.92). HSBC’s price target indicates a potential upside of 2.03% from the stock’s current price.
Several other brokerages have also commented on RMG. Liberum Capital upgraded Royal Mail to a “hold” rating and decreased their price objective for the company from GBX 240 ($3.14) to GBX 185 ($2.42) in a report on Friday, May 24th. UBS Group reiterated a “neutral” rating and set a GBX 282 ($3.68) price objective (down previously from GBX 354 ($4.63)) on shares of Royal Mail in a report on Monday, February 11th. Berenberg Bank upgraded Royal Mail to a “hold” rating and decreased their price objective for the company from GBX 250 ($3.27) to GBX 240 ($3.14) in a report on Monday, April 1st. Credit Suisse Group reduced their target price on Royal Mail from GBX 238 ($3.11) to GBX 183 ($2.39) and set an “underperform” rating for the company in a research note on Wednesday, May 29th. Finally, Goldman Sachs Group upgraded Royal Mail to a “buy” rating and reduced their target price for the stock from GBX 360 ($4.70) to GBX 320 ($4.18) in a research note on Friday, May 24th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 250.46 ($3.27).
LON RMG traded up GBX 1.80 ($0.02) during midday trading on Friday, hitting GBX 211.70 ($2.77). 3,706,291 shares of the company traded hands, compared to its average volume of 5,850,000. Royal Mail has a 52 week low of GBX 192 ($2.51) and a 52 week high of GBX 506.80 ($6.62). The firm has a 50-day simple moving average of GBX 209.29. The company has a current ratio of 0.82, a quick ratio of 0.73 and a debt-to-equity ratio of 12.04. The stock has a market capitalization of $2.12 billion and a P/E ratio of 12.10.
In related news, insider Rico Back purchased 51,702 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of GBX 199 ($2.60) per share, with a total value of £102,886.98 ($134,440.06). Insiders have acquired a total of 251,794 shares of company stock worth $51,708,848 over the last ninety days.
About Royal Mail
Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.
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