FirstGroup (LON:FGP) Sets New 52-Week High - Here's Why

Key Points

• FirstGroup plc's share price hit a new 52-week high, reaching GBX 240.40 ($3.20) during trading, with the last traded price at GBX 231.20 ($3.07).
• Berenberg Bank raised its price target for FirstGroup from GBX 215 ($2.86) to GBX 240 ($3.19), maintaining a "buy" rating for the stock.
• Insider Ryan Mangold sold 950,000 shares at an average price of GBX 224 ($2.98), amounting to a total value of £2,128,000 ($2,829,410.98).

FirstGroup plc (LON:FGP - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as GBX 240.40 ($3.23) and last traded at GBX 231.20 ($3.11), with a volume of 220656 shares trading hands. The stock had previously closed at GBX 230.60 ($3.10).

Analyst Ratings Changes

Separately, Berenberg Bank upped their target price on shares of FirstGroup from GBX 215 ($2.89) to GBX 240 ($3.23) and gave the stock a "buy" rating in a research report on Monday, July 7th.

FirstGroup Stock Performance

The firm has a fifty day simple moving average of GBX 220.50 and a 200-day simple moving average of GBX 186.67. The company has a current ratio of 0.69, a quick ratio of 0.74 and a debt-to-equity ratio of 257.49. The stock has a market cap of £1.35 billion, a price-to-earnings ratio of -107.46, a P/E/G ratio of 5.21 and a beta of 1.59.

FirstGroup (LON:FGP - Get Free Report) last released its earnings results on Tuesday, June 10th. The transport operator reported GBX 19.40 ($0.26) earnings per share for the quarter. FirstGroup had a negative return on equity of 2.54% and a negative net margin of 0.34%. Analysts forecast that FirstGroup plc will post 17.3782772 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan Mangold sold 950,000 shares of FirstGroup stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of GBX 224 ($3.01), for a total transaction of £2,128,000 ($2,862,138.53). Corporate insiders own 3.64% of the company's stock.

About FirstGroup

FirstGroup plc provides public transport services in the United Kingdom. The company operates through First Bus and First Rail segments. The First Bus segment offers local bus services with a fleet of approximately 4,900 buses in the United Kingdom. The First Rail segment operates a passenger rail network that provides long-distance, commuter, regional, and sleeper services through a portfolio of Great Western Railway, South Western Railway, TransPennine Express, and Avanti West Coast franchises; and hull trains and Lumos.