Future (LON:FUTR) Stock Price Down 11.5% on Analyst Downgrade

Future plc (LON:FUTR)’s share price dropped 11.5% during trading on Friday after Jefferies Financial Group downgraded the stock to a hold rating. Jefferies Financial Group now has a GBX 466 price target on the stock, down from their previous price target of GBX 1,220. Future traded as low as GBX 370.27 and last traded at GBX 371.60. Approximately 1,813,802 shares traded hands during trading, a decline of 89% from the average daily volume of 16,112,883 shares. The stock had previously closed at GBX 420.

Separately, JPMorgan Chase & Co. dropped their target price on Future from GBX 1,280 to GBX 1,235 and set an “overweight” rating on the stock in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 811.33.

Insider Buying and Selling

In other Future news, insider Ivana Kirkbride purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average cost of GBX 518 per share, for a total transaction of £5,180. Corporate insiders own 5.68% of the company’s stock.

Future Price Performance

The firm has a 50 day moving average price of GBX 450.56 and a 200 day moving average price of GBX 551.44. The stock has a market capitalization of £362.09 million, a PE ratio of 6.27, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 32.47.

Future announced that its board has initiated a stock buyback plan on Thursday, December 4th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

About Future

Future is a global platform for specialist media underpinned by proprietary technology, enabled by data; with diversified revenue streams