Essentra (LON:ESNT) Shares Pass Above 50 Day Moving Average - What's Next?

Key Points

• Essentra shares moved above their 50-day moving average on Wednesday, trading as high as GBX 84.60 before last changing hands at GBX 83.82.
• Broker sentiment remains mostly positive: four analysts rate the stock Buy and one rates it Hold, with a consensus target price of GBX 150.
• An insider purchase added some support, with Rowan Baker buying 9,477 shares at GBX 84 each in late April.

Essentra plc (LON:ESNT - Get Free Report) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 83.81 and traded as high as GBX 84.60. Essentra shares last traded at GBX 83.82, with a volume of 1,283,019 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESNT. Jefferies Financial Group restated a "buy" rating and issued a GBX 130 price objective on shares of Essentra in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 100 price objective on shares of Essentra in a research note on Thursday, May 21st. Royal Bank Of Canada dropped their target price on shares of Essentra to GBX 130 and set an "outperform" rating for the company in a research report on Wednesday, March 18th. Finally, Berenberg Bank reiterated a "buy" rating and issued a GBX 160 price objective on shares of Essentra in a report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 150.

Essentra Stock Performance

The company has a debt-to-equity ratio of 47.67, a current ratio of 2.20 and a quick ratio of 0.50. The company has a 50 day moving average of GBX 83.81 and a two-hundred day moving average of GBX 91.71. The company has a market capitalization of £237.59 million, a PE ratio of 119.74, a PEG ratio of 3.84 and a beta of 0.83.

Insider Transactions at Essentra

In other Essentra news, insider Rowan Baker bought 9,477 shares of Essentra stock in a transaction on Friday, April 24th. The shares were acquired at an average price of GBX 84 per share, for a total transaction of £7,960.68. 0.52% of the stock is currently owned by insiders.

About Essentra

Essentra plc is a leading global provider of essential components and solutions, focusing on the manufacture and distribution of plastic injection moulded, vinyl dip moulded and metal items. Headquartered in the United Kingdom, Essentra's global network extends to 27 countries worldwide and includes c.3,000 employees, 14 manufacturing facilities, 25 distribution centres and 35 sales & service centres serving c.76,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics, medical and renewable energy.

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