abrdn (LON:ABDN) Reaches New 52-Week High - Here's Why

Key Points

• abrdn plc shares reached a new 52-week high, trading at GBX 206.80 ($2.78) with significant volume of 4.67 million shares on the latest trading day.
• Equities research analysts show a consensus rating of "Moderate Buy" for the stock, with several analysts raising their price targets, including Deutsche Bank, which increased its target from GBX 210 ($2.82) to GBX 240 ($3.22).
• The company reported a return on equity of 6.46% and a net margin of 21.19% in its latest earnings, with analysts anticipating EPS of 15.23 for the current year.

abrdn plc (LON:ABDN - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as GBX 206.80 ($2.80) and last traded at GBX 204.99 ($2.78), with a volume of 4674740 shares changing hands. The stock had previously closed at GBX 204.80 ($2.78).

Analysts Set New Price Targets

A number of research firms have recently commented on ABDN. Royal Bank Of Canada boosted their price target on abrdn from GBX 130 ($1.76) to GBX 140 ($1.90) and gave the stock an "outperform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. restated an "overweight" rating on shares of abrdn in a research report on Tuesday, July 29th. Citigroup boosted their price objective on abrdn from GBX 195 ($2.64) to GBX 200 ($2.71) and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on abrdn from GBX 210 ($2.85) to GBX 240 ($3.25) and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group boosted their price objective on abrdn from GBX 175 ($2.37) to GBX 180 ($2.44) and gave the stock a "hold" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of GBX 195.60 ($2.65).

abrdn Price Performance

The company has a current ratio of 225.80, a quick ratio of 24.97 and a debt-to-equity ratio of 12.25. The business has a 50-day simple moving average of GBX 194.41 and a 200 day simple moving average of GBX 170.57. The stock has a market cap of £3.47 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 12.70 and a beta of 1.25.

abrdn (LON:ABDN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported GBX 7.60 ($0.10) EPS for the quarter. abrdn had a return on equity of 6.46% and a net margin of 21.19%. On average, analysts forecast that abrdn plc will post 15.2266152 earnings per share for the current year.

About abrdn

Aberdeen is a Wealth & Investments group that connects investors to the expertise, tools, and solutions they need to grow and manage their wealth with confidence. We are structured around three businesses – interactive investor, Adviser and Investments. As a diversified group, we have positioned ourselves for growth in a changing investment landscape.