Filtronic (LON:FTC) Given Buy Rating at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed a buy rating and set a GBX 213 price target, which implies about a 16.96% downside from the stock's recent close.
• Corporate insiders sold 405,782 shares worth roughly $85.7m in the past three months, including sales of 240,631 shares at GBX 205 and 65,151 shares at GBX 244; insiders now hold 4.6% of the company.
• Shares opened at GBX 256.50 (down ~4.1%), Filtronic has a market cap of £564.15m and a P/E of 61.8, last quarter EPS was GBX 1.20 and analysts expect about 3.07 EPS for the fiscal year.

Filtronic (LON:FTC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Berenberg Bank in a report released on Tuesday,Digital Look reports. They currently have a GBX 213 price objective on the stock. Berenberg Bank's price target would suggest a potential downside of 16.96% from the stock's previous close.

Filtronic Stock Down 4.1%

Shares of FTC opened at GBX 256.50 on Tuesday. The company has a debt-to-equity ratio of 16.02, a current ratio of 2.23 and a quick ratio of 2.13. The stock has a market capitalization of £564.15 million, a price-to-earnings ratio of 61.81 and a beta of 0.73. Filtronic has a 1 year low of GBX 91 and a 1 year high of GBX 302. The business's 50 day simple moving average is GBX 203.93 and its 200-day simple moving average is GBX 172.70.

Filtronic (LON:FTC - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The company reported GBX 1.20 earnings per share for the quarter. Filtronic had a net margin of 17.80% and a return on equity of 26.93%. As a group, equities analysts expect that Filtronic will post 3.0730129 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Tyerman sold 240,631 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total value of £493,293.55. Also, insider Jonathan Neale sold 65,151 shares of the business's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total transaction of £158,968.44. Insiders sold 405,782 shares of company stock valued at $85,726,199 in the last three months. Corporate insiders own 4.60% of the company's stock.

About Filtronic

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today's data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.

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