B&M European Value Retail (LON:BME) Raised to Buy at Shore Capital

Key Points

• Shore Capital upgraded B&M European Value Retail to a "buy" rating with a revised price target of GBX 300, indicating a potential upside of 29.28% from the previous close.
• Currently, 11 analysts have rated the stock as a buy, while the consensus price target stands at GBX 366.43.
• Insider Tjeerd Jegen purchased 50,400 shares of B&M at an average cost of GBX 250, contributing to a total insider ownership of 22.78%.

B&M European Value Retail (LON:BME - Get Free Report) was upgraded by Shore Capital to a "buy" rating in a report issued on Thursday,Digital Look reports. The brokerage currently has a GBX 300 price target on the stock, up from their previous price target of GBX 250. Shore Capital's price objective would suggest a potential upside of 29.28% from the company's previous close.

A number of other research firms have also commented on BME. Canaccord Genuity Group cut their price objective on B&M European Value Retail from GBX 490 to GBX 395 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on B&M European Value Retail from GBX 207 to GBX 205 and set an "underweight" rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 410 price target on shares of B&M European Value Retail in a research note on Tuesday, July 15th. Citigroup decreased their price target on B&M European Value Retail from GBX 361 to GBX 290 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Peel Hunt reaffirmed a "buy" rating and issued a GBX 400 price target on shares of B&M European Value Retail in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 366.43.

B&M European Value Retail Stock Performance

BME stock traded down GBX 2.94 during trading hours on Thursday, hitting GBX 232.06. 6,978,659 shares of the stock were exchanged, compared to its average volume of 13,307,748. The company has a 50-day simple moving average of GBX 240.12 and a two-hundred day simple moving average of GBX 273.34. B&M European Value Retail has a 12 month low of GBX 200.20 and a 12 month high of GBX 413.62. The firm has a market capitalization of £2.33 billion, a P/E ratio of 729.75 and a beta of 1.05. The company has a current ratio of 1.06, a quick ratio of 0.38 and a debt-to-equity ratio of 315.77.

Insider Activity at B&M European Value Retail

In related news, insider Tjeerd Jegen acquired 50,400 shares of the stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average cost of GBX 250 per share, with a total value of £126,000. Insiders bought 257,380 shares of company stock valued at $62,468,940 in the last quarter. 22.78% of the stock is currently owned by insiders.

About B&M European Value Retail

B&M European Value Retail SA operates general merchandise and grocery stores. The company operates a chain of stores under the B&M, Heron Foods, and B&M Express in the United Kingdom; and stores under the B&M brand in France. It also provides property management services. The company was founded in 1978 and is based in Munsbach, Luxembourg.

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