Johnson Matthey (LON:JMAT) Hits New 52-Week High - Time to Buy?

Key Points

• Johnson Matthey PLC shares reached a new 52-week high of GBX 1,950 ($26.39) during trading, showcasing strong market activity with a volume of 705,148 shares exchanged.
• Berenberg Bank raised its target price for Johnson Matthey from GBX 1,800 to GBX 1,950, maintaining a "hold" rating, while the consensus price target stands at GBX 1,875.
• Insider Andrew Cosslett purchased 10,495 shares at an average price of GBX 1,896, indicating insider confidence as total insider purchases this quarter amount to £198,985.20.

Shares of Johnson Matthey PLC (LON:JMAT - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 1,950 ($26.39) and last traded at GBX 1,913 ($25.89), with a volume of 705148 shares trading hands. The stock had previously closed at GBX 1,920 ($25.99).

Wall Street Analyst Weigh In

Separately, Berenberg Bank upped their target price on shares of Johnson Matthey from GBX 1,800 to GBX 1,950 and gave the stock a "hold" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 1,875.

Johnson Matthey Price Performance

The business's 50 day moving average price is GBX 1,849.97 and its 200 day moving average price is GBX 1,591.18. The stock has a market capitalization of £3.22 billion, a P/E ratio of 909.09, a price-to-earnings-growth ratio of 49,242.50 and a beta of 0.95. The company has a debt-to-equity ratio of 62.73, a current ratio of 1.45 and a quick ratio of 0.76.

Insiders Place Their Bets

In related news, insider Andrew Cosslett bought 10,495 shares of the stock in a transaction dated Tuesday, August 26th. The shares were purchased at an average price of GBX 1,896 per share, with a total value of £198,985.20. Insiders have purchased a total of 10,523 shares of company stock worth $19,947,408 over the last quarter. 0.50% of the stock is owned by insiders.

About Johnson Matthey

Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, they improve the function, performance and safety of their customers' products. Their science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet's natural resources.

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