Begbies Traynor Group (LON:BEG) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Begbies Traynor Group plc shares exceeded their 200-day moving average, reaching a high of GBX 119.68 ($1.62) in recent trading.
• Several brokerages have given the stock a "Buy" rating, with Berenberg Bank setting a price target of GBX 150 and Canaccord Genuity increasing their target from GBX 153 to GBX 157.
• The company reported a net margin of 1.06% and an earnings per share (EPS) of GBX 11 for the latest quarter, with analysts expecting EPS of approximately 10.15 for the current year.

Begbies Traynor Group plc (LON:BEG - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 105.97 ($1.45) and traded as high as GBX 119.68 ($1.63). Begbies Traynor Group shares last traded at GBX 118 ($1.61), with a volume of 279,740 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on BEG shares. Canaccord Genuity Group lifted their price target on Begbies Traynor Group from GBX 153 to GBX 157 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 150 price objective on shares of Begbies Traynor Group in a report on Tuesday, September 2nd. Finally, Shore Capital reaffirmed a "house stock" rating on shares of Begbies Traynor Group in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of GBX 152.33.

Begbies Traynor Group Stock Performance

The company has a market capitalization of £194.75 million, a price-to-earnings ratio of 3,223.68, a PEG ratio of 2.95 and a beta of 0.37. The stock has a fifty day moving average price of GBX 119.86 and a two-hundred day moving average price of GBX 106.81. The company has a quick ratio of 1.35, a current ratio of 1.31 and a debt-to-equity ratio of 23.79.

Begbies Traynor Group (LON:BEG - Get Free Report) last released its quarterly earnings results on Tuesday, July 8th. The company reported GBX 11 earnings per share for the quarter. Begbies Traynor Group had a return on equity of 1.83% and a net margin of 1.06%. As a group, analysts forecast that Begbies Traynor Group plc will post 10.1495972 EPS for the current fiscal year.

Insider Buying and Selling at Begbies Traynor Group

In other news, insider Mark Fry sold 112,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of GBX 124, for a total value of £138,880. 19.97% of the stock is currently owned by company insiders.

Begbies Traynor Group Company Profile

Begbies Traynor Group plc provides various professional services to businesses, professional advisors, large corporations, and financial institutions in the United Kingdom. The company operates through two segments: Insolvency and Advisory Services; and Property Advisory and Transactional Services. It offers business rescue and recovery services, including company administration, creditors' voluntary liquidation, company dissolution and strike off, company voluntary arrangement, compulsory liquidation, the Law of Property Act or fixed charge receiverships, members' voluntary liquidation, partnership liquidation, and personal insolvency services, as well as closure options for insolvent companies.