Marks and Spencer Group (LON:MKS) Reaches New 52-Week Low After Analyst Downgrade

Marks and Spencer Group plc (LON:MKSGet Rating)’s share price reached a new 52-week low during mid-day trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 155 to GBX 145. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Marks and Spencer Group traded as low as GBX 115.25 ($1.39) and last traded at GBX 117.05 ($1.41), with a volume of 3022774 shares trading hands. The stock had previously closed at GBX 120.20 ($1.45).

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada lowered their price objective on Marks and Spencer Group from GBX 200 ($2.42) to GBX 170 ($2.05) and set an “outperform” rating on the stock in a research report on Monday, May 30th. Berenberg Bank lowered their price objective on Marks and Spencer Group from GBX 215 ($2.60) to GBX 198 ($2.39) and set a “buy” rating on the stock in a research report on Tuesday, June 7th. Barclays reaffirmed an “overweight” rating and set a GBX 215 ($2.60) price objective on shares of Marks and Spencer Group in a research report on Monday, July 25th. JPMorgan Chase & Co. lowered their price objective on Marks and Spencer Group from GBX 165 ($1.99) to GBX 120 ($1.45) and set a “neutral” rating on the stock in a research report on Wednesday, September 7th. Finally, Jefferies Financial Group lowered their price objective on Marks and Spencer Group from GBX 170 ($2.05) to GBX 115 ($1.39) and set a “hold” rating on the stock in a research report on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 185.22 ($2.24).

Insider Buying and Selling

In other Marks and Spencer Group news, insider Eoin Tonge sold 256,760 shares of Marks and Spencer Group stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of GBX 137 ($1.66), for a total value of £351,761.20 ($425,037.70). In other Marks and Spencer Group news, insider Stuart Machin sold 99,121 shares of Marks and Spencer Group stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of GBX 137 ($1.66), for a total value of £135,795.77 ($164,083.82). Also, insider Eoin Tonge sold 256,760 shares of Marks and Spencer Group stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of GBX 137 ($1.66), for a total value of £351,761.20 ($425,037.70). In the last three months, insiders have acquired 333 shares of company stock valued at $44,940.

Marks and Spencer Group Trading Down 3.7 %

The firm has a market cap of £2.27 billion and a P/E ratio of 771.67. The company has a current ratio of 0.92, a quick ratio of 0.57 and a debt-to-equity ratio of 130.51. The stock has a 50 day simple moving average of GBX 131.99 and a 200-day simple moving average of GBX 142.28.

About Marks and Spencer Group

(Get Rating)

Marks and Spencer Group plc operates various retail stores. It operates through five segments: UK Clothing & Home, UK Food, International, Ocado, and All Other. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and ‘Food on the Move' products.

Further Reading

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