Royal Mail (LON:RMG) Downgraded by HSBC

Royal Mail (LON:RMG) was downgraded by investment analysts at HSBC to a “hold” rating in a research report issued on Friday, June 7th, ThisIsMoney.Co.Uk reports. They presently have a GBX 216 ($2.82) price objective on the stock, down from their prior price objective of GBX 300 ($3.92). HSBC’s price objective would indicate a potential upside of 2.47% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Royal Mail to a “neutral” rating and upped their price objective for the stock from GBX 241 ($3.15) to GBX 252 ($3.29) in a research report on Tuesday, June 4th. Deutsche Bank decreased their price objective on shares of Royal Mail from GBX 180 ($2.35) to GBX 150 ($1.96) and set a “sell” rating for the company in a research report on Tuesday, June 4th. Jefferies Financial Group cut their target price on shares of Royal Mail from GBX 220 ($2.87) to GBX 170 ($2.22) and set an “underperform” rating for the company in a research note on Monday, June 3rd. Credit Suisse Group cut their target price on shares of 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 raised shares of Royal Mail to a “buy” rating and cut 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 250.46 ($3.27).

Shares of Royal Mail stock traded down GBX 1.10 ($0.01) during trading hours on Friday, reaching GBX 210.80 ($2.75). The stock had a trading volume of 3,703,590 shares, compared to its average volume of 5,850,000. The company’s 50 day simple moving average is GBX 211.82. The stock has a market cap of $2.11 billion and a price-to-earnings ratio of 12.05. Royal Mail has a twelve month low of GBX 192 ($2.51) and a twelve month 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.

In other news, insider Rico Back purchased 51,702 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of GBX 199 ($2.60) per share, with a total value of £102,886.98 ($134,440.06). In the last three months, insiders bought 251,794 shares of company stock valued at $51,708,848.

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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