FirstGroup (LON:FGP) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• FirstGroup plc's stock price has recently surpassed its 200-day moving average, trading at GBX 213.40 ($2.89) after reaching a high of GBX 216.40 ($2.93).
• Berenberg Bank raised their price target for FirstGroup to GBX 240 and assigned a "buy" rating, indicating positive sentiment towards the stock.
• Insider selling has been significant, with insiders offloading nearly 1.93 million shares valued at over $434 million in the last quarter.

FirstGroup plc (LON:FGP - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 195.95 ($2.66) and traded as high as GBX 216.40 ($2.94). FirstGroup shares last traded at GBX 213.40 ($2.89), with a volume of 415,262 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank raised their price target on FirstGroup from GBX 215 to GBX 240 and gave the stock a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of GBX 240.

FirstGroup Stock Performance

The stock has a market capitalization of £1.20 billion, a PE ratio of 1,068.29, a price-to-earnings-growth ratio of 5.21 and a beta of 1.59. The stock has a fifty day moving average of GBX 222.52 and a 200-day moving average of GBX 197.25. The company has a quick ratio of 0.74, a current ratio of 0.69 and a debt-to-equity ratio of 257.49.

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

Insiders Place Their Bets

In related news, insider Ryan Mangold sold 472,462 shares of FirstGroup stock in a transaction on Monday, August 18th. The stock was sold at an average price of GBX 226, for a total value of £1,067,764.12. Also, insider Graham Sutherland sold 458,035 shares of FirstGroup stock in a transaction on Monday, August 18th. The shares were sold at an average price of GBX 226, for a total value of £1,035,159.10. Company insiders own 1.02% 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.