B&M European Value Retail (LON:BME) Shares Pass Above 50 Day Moving Average - Here's What Happened

Key Points

• B&M European Value Retail's share price crossed above its 50-day moving average, trading as high as GBX 250.70 ($3.39) before last settling at GBX 242.70 ($3.28).
• Analysts have set varying price targets for the stock, with Deutsche Bank rating it as a "buy" with a target of GBX 410, while Citigroup reduced its target from GBX 456 to GBX 361.
• Insider buying has been significant, with Tjeerd Jegen purchasing 45,000 shares, and insiders owning 22.78% of the company stock as of the last three months.

B&M European Value Retail S.A. (LON:BME - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 238.60 ($3.24) and traded as high as GBX 250.70 ($3.40). B&M European Value Retail shares last traded at GBX 242.70 ($3.29), with a volume of 2,464,816 shares changing hands.

Analyst Ratings Changes

BME has been the topic of several recent analyst reports. Citigroup dropped their price objective on B&M European Value Retail from GBX 456 to GBX 361 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Shore Capital initiated coverage on B&M European Value Retail in a research report on Tuesday, September 2nd. They set a "hold" rating and a GBX 250 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 410 price objective on shares of B&M European Value Retail in a research report on Tuesday, July 15th. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 490 price objective on shares of B&M European Value Retail in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. dropped their target price on B&M European Value Retail from GBX 281 to GBX 207 and set an "underweight" rating on the stock in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, B&M European Value Retail has a consensus rating of "Moderate Buy" and an average price target of GBX 380.50.

B&M European Value Retail Price Performance

The firm has a 50 day moving average of GBX 236.35 and a 200-day moving average of GBX 275.28. The company has a market cap of £2.45 billion, a P/E ratio of 765.41 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 Transactions at B&M European Value Retail

In other B&M European Value Retail news, insider Tjeerd Jegen bought 79,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of GBX 250 per share, with a total value of £198,750. Over the last 90 days, insiders purchased 145,480 shares of company stock worth $34,985,940. 22.78% of the stock is currently owned by company insiders.

B&M European Value Retail Company Profile

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.