Braemar (LON:BMS) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Braemar Plc's shares have recently surpassed their 200-day moving average, trading at GBX 255 ($3.45) with a high of GBX 258.30 ($3.49).
• Canaccord Genuity has lowered its target price on Braemar from GBX 350 ($4.74) to GBX 320 ($4.33) but maintains a "buy" rating.
• Insider transactions include the purchase of 6,700 shares by Catriona Louise Valentine and the sale of 31,358 shares by James Christopher Duchar Gundy, highlighting significant insider trading activities.

Braemar Plc (LON:BMS - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 240.58 ($3.25) and traded as high as GBX 258.30 ($3.49). Braemar shares last traded at GBX 255 ($3.44), with a volume of 49,947 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lowered their target price on Braemar from GBX 350 to GBX 320 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Braemar has a consensus rating of "Buy" and a consensus price target of GBX 365.

Braemar Price Performance

The company's 50-day simple moving average is GBX 233.58 and its 200 day simple moving average is GBX 240.04. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 43.61. The stock has a market capitalization of £79.38 million, a price-to-earnings ratio of 15.99 and a beta of 1.17.

Braemar (LON:BMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported GBX 31.30 EPS for the quarter. Braemar had a return on equity of 5.78% and a net margin of 3.03%. Equities research analysts forecast that Braemar Plc will post 33.0310881 EPS for the current year.

Insider Buying and Selling

In other news, insider Catriona Louise Valentine bought 6,700 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average price of GBX 235 per share, for a total transaction of £15,745. Also, insider James Christopher Duchar Gundy sold 31,358 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of GBX 217, for a total transaction of £68,046.86. Company insiders own 46.79% of the company's stock.

About Braemar

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.