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Royal Mail (LON:RMG) was downgraded by research analysts 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) price target on the stock, down from their previous price target of GBX 300 ($3.92). HSBC’s price objective would suggest a potential upside of 2.91% from the stock’s previous close.
RMG has been the topic of several other research reports. Deutsche Bank lowered their price objective on shares of Royal Mail from GBX 250 ($3.27) to GBX 180 ($2.35) and set a “sell” rating on the stock in a report on Friday, February 8th. Liberum Capital upgraded shares of Royal Mail to a “hold” rating and lowered their price objective for the stock from GBX 240 ($3.14) to GBX 185 ($2.42) in a report on Friday, May 24th. Credit Suisse Group lowered their price objective on shares of Royal Mail from GBX 238 ($3.11) to GBX 183 ($2.39) and set an “underperform” rating on the stock in a report on Wednesday, May 29th. UBS Group restated 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. Finally, JPMorgan Chase & Co. upgraded shares of Royal Mail to a “neutral” rating and upped their target price for the stock from GBX 241 ($3.15) to GBX 252 ($3.29) in a research note on Tuesday, June 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Royal Mail presently has an average rating of “Hold” and an average price target of GBX 250.46 ($3.27).
RMG traded down GBX 0.90 ($0.01) during trading on Friday, reaching GBX 209.90 ($2.74). 3,443,720 shares of the company’s stock were exchanged, compared to its average volume of 5,850,000. Royal Mail has a one year low of GBX 192 ($2.51) and a one year high of GBX 506.80 ($6.62). The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 12.04. The stock has a market capitalization of $2.10 billion and a PE ratio of 11.99. The stock has a fifty day moving average price of GBX 209.88.
In other news, insider Rico Back purchased 51,702 shares of the stock in a transaction dated Tuesday, June 4th. The shares were purchased 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 251,794 shares of company stock valued at $51,708,848 in the last quarter.
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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