Johnson Matthey (LON:JMAT) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Shares of Johnson Matthey PLC crossed above their 200-day moving average during trading, currently priced at GBX 2,034.16 ($27.42).
• Berenberg Bank raised their price target for Johnson Matthey from GBX 1,800 to GBX 1,950, maintaining a "hold" rating amidst a consensus rating of "Moderate Buy."
• Insider Andrew Cosslett purchased 10,495 shares of Johnson Matthey at an average price of GBX 1,896, indicating confidence from company leadership.

Shares of Johnson Matthey PLC (LON:JMAT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,658.99 ($22.36) and traded as high as GBX 2,038 ($27.47). Johnson Matthey shares last traded at GBX 2,034.16 ($27.42), with a volume of 210,705 shares changing hands.

Wall Street Analysts Forecast Growth

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

Johnson Matthey Stock Performance

The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 62.73. The company has a market capitalization of £3.40 billion, a PE ratio of 960.84, a PEG ratio of 49,242.50 and a beta of 0.95. The business has a 50 day simple moving average of GBX 1,889.33 and a 200 day simple moving average of GBX 1,658.99.

Insider Buying and Selling

In related news, insider Andrew Cosslett bought 10,495 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were bought at an average price of GBX 1,896 per share, with a total value of £198,985.20. 0.50% of the stock is owned by company 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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