Johnson Matthey (LON:JMAT) Sets New 1-Year High - Here's What Happened

Key Points

• Johnson Matthey PLC shares reached a new 52-week high of GBX 1,954 ($26.41) during trading, marking a notable increase from the previous close of GBX 1,928 ($26.06).
• Berenberg Bank has raised its price target on Johnson Matthey to GBX 1,950 while maintaining a "hold" rating, reflecting analysts' optimism about the stock's growth potential.
• Company insider Andrew Cosslett purchased 10,495 shares at an average price of GBX 1,896, indicating confidence in the company's future performance.

Shares of Johnson Matthey PLC (LON:JMAT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,954 ($26.41) and last traded at GBX 1,954 ($26.41), with a volume of 69772 shares trading hands. The stock had previously closed at GBX 1,928 ($26.06).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank boosted their price objective on Johnson Matthey from GBX 1,800 to GBX 1,950 and gave the company 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,875.

Johnson Matthey Stock Up 0.9%

The company has a market cap of £3.26 billion, a price-to-earnings ratio of 920.93, a PEG ratio of 49,242.50 and a beta of 0.95. The business has a fifty day moving average of GBX 1,861.16 and a two-hundred day moving average of GBX 1,619.19. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 62.73.

Insider Transactions at Johnson Matthey

In related news, insider Andrew Cosslett purchased 10,495 shares of the company's stock in a transaction that occurred on 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. Corporate insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.