RS Group (LON:RS1) Price Target Cut to GBX 670 by Analysts at Berenberg Bank

Key Points

• Berenberg Bank has lowered its price target for RS Group (LON:RS1) from GBX 700 to GBX 670, maintaining a "hold" rating, which suggests a potential upside of 18.32% from the current price.
• Despite Berenberg's downgrade, Shore Capital reiterated a "buy" rating, contributing to a consensus rating of "Moderate Buy" with an average price target of GBX 725.
• Insider trading activity shows Kate Ringrose sold 6,143 shares at an average price of GBX 580, while insiders purchased over 10,000 shares valued at approximately $5.77 million in the last 90 days.

RS Group (LON:RS1 - Get Free Report) had its price objective lowered by investment analysts at Berenberg Bank from GBX 700 to GBX 670 in a report released on Tuesday, Marketbeat.com reports. The firm presently has a "hold" rating on the stock. Berenberg Bank's target price indicates a potential upside of 17.75% from the company's previous close.

Separately, Shore Capital reaffirmed a "buy" rating on shares of RS Group in a report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of GBX 725.

RS Group Stock Performance

LON:RS1 traded up GBX 5.50 during mid-day trading on Tuesday, hitting GBX 569. The company's stock had a trading volume of 24,796,984 shares, compared to its average volume of 1,647,818. RS Group has a 1 year low of GBX 476.80 and a 1 year high of GBX 850. The company has a debt-to-equity ratio of 47.26, a current ratio of 2.01 and a quick ratio of 1.24. The stock has a market cap of £2.67 billion, a price-to-earnings ratio of 1,750.77, a PEG ratio of 1.85 and a beta of 0.86. The business's fifty day moving average is GBX 571.19 and its two-hundred day moving average is GBX 565.99.

Insiders Place Their Bets

In related news, insider Kate Ringrose sold 6,143 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of GBX 580, for a total value of £35,629.40. Over the last 90 days, insiders have bought 10,204 shares of company stock valued at $5,767,518. Company insiders own 0.68% of the company's stock.

About RS Group

RS Group plc is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably. We operate in 36 markets, stock over 800,000 technical and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers.