Eleco (LON:ELCO) Stock Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• Shares of Eleco Plc (LON:ELCO) have dipped below their 50-day moving average, trading as low as GBX 147.25 ($1.99) while the average stands at GBX 160.39 ($2.16).
• Analysts maintain a buy rating for Eleco with a price target of GBX 176, despite the recent dip in share price.
• The company reported a quarterly earnings of GBX 2 per share with a return on equity of 10.50% and a net margin of 9.46% for the last fiscal period.

Shares of Eleco Plc (LON:ELCO - Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 160.39 ($2.16) and traded as low as GBX 147.25 ($1.99). Eleco shares last traded at GBX 147.50 ($1.99), with a volume of 545,112 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 176 price target on shares of Eleco in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of GBX 176.

Eleco Trading Down 0.7%

The company has a market cap of £121.91 million, a PE ratio of 3,687.50 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.01 and a debt-to-equity ratio of 4.79. The business has a 50-day simple moving average of GBX 160.39 and a 200-day simple moving average of GBX 150.91.

Eleco (LON:ELCO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 16th. The company reported GBX 2 earnings per share for the quarter. Eleco had a return on equity of 10.50% and a net margin of 9.46%. On average, analysts predict that Eleco Plc will post 6 EPS for the current fiscal year.

About Eleco

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.