Costain Group (LON:COST) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Costain Group's shares have crossed above their two hundred day moving average, trading at GBX 149.78 with a peak at GBX 155.80.
• Brokerages have set new price targets for Costain Group, with Berenberg Bank and Peel Hunt issuing "buy" ratings and targets of GBX 175 and GBX 180, respectively.
• Insider transactions indicate confidence in the company, with insiders purchasing a total of 35,000 shares worth approximately £4.67 million over the last three months.

Costain Group PLC (LON:COST - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 134.11 ($1.80) and traded as high as GBX 155.80 ($2.09). Costain Group shares last traded at GBX 149.78 ($2.01), with a volume of 559,989 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on COST. Berenberg Bank restated a "buy" rating and set a GBX 175 price target on shares of Costain Group in a research note on Monday, September 8th. Peel Hunt reiterated a "buy" rating and issued a GBX 180 price objective on shares of Costain Group in a research note on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Costain Group from GBX 115 to GBX 150 and gave the stock a "hold" rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Costain Group presently has a consensus rating of "Moderate Buy" and an average target price of GBX 168.33.

Costain Group Price Performance

The stock has a market cap of £400.42 million, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.63 and a beta of 2.64. The stock's 50 day moving average price is GBX 138.51 and its two-hundred day moving average price is GBX 134.11. The company has a quick ratio of 1.32, a current ratio of 1.40 and a debt-to-equity ratio of 9.86.

Costain Group (LON:COST - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The company reported GBX 5.50 earnings per share (EPS) for the quarter. Costain Group had a net margin of 2.33% and a return on equity of 13.56%. Equities research analysts forecast that Costain Group PLC will post 13.7551582 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kate Rock purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average cost of GBX 132 per share, with a total value of £19,800. Also, insider Amanda Fisher purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were purchased at an average cost of GBX 131 per share, for a total transaction of £13,100. Insiders have purchased 35,000 shares of company stock worth $4,670,000 over the last three months. 47.99% of the stock is currently owned by insiders.

Costain Group Company Profile

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's energy, water, transportation and defence markets.

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