Marks and Spencer Group (LON:MKS) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Marks and Spencer Group shares surpassed their 200-day moving average, trading at GBX 387.20 ($5.19) after reaching a high of GBX 391.20 ($5.24).
• Several analysts have issued mixed ratings for MKS, with a consensus rating of "Buy" and an average price target of GBX 425, despite fluctuations in price targets from different banks.
• Recent insider activity included significant sales by insiders Stuart Machin and Alison Dolan, totaling over £3 million, indicating possible shifts in internal confidence regarding the stock.

Marks and Spencer Group plc (LON:MKS - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 359.38 ($4.82) and traded as high as GBX 391.20 ($5.24). Marks and Spencer Group shares last traded at GBX 387.20 ($5.19), with a volume of 5,837,486 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MKS shares. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Marks and Spencer Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on Marks and Spencer Group from GBX 450 to GBX 435 and set a "buy" rating for the company in a research report on Tuesday, August 26th. Citigroup raised Marks and Spencer Group to a "buy" rating and boosted their price target for the stock from GBX 380 to GBX 440 in a research report on Monday, September 8th. Royal Bank Of Canada reduced their price target on Marks and Spencer Group from GBX 420 to GBX 400 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Shore Capital reaffirmed a "house stock" rating on shares of Marks and Spencer Group in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Marks and Spencer Group has a consensus rating of "Buy" and an average price target of GBX 425.

Marks and Spencer Group Stock Performance

The firm has a fifty day simple moving average of GBX 351.55 and a 200 day simple moving average of GBX 359.38. The company has a current ratio of 0.82, a quick ratio of 0.42 and a debt-to-equity ratio of 95.00. The stock has a market cap of £7.78 billion, a price-to-earnings ratio of 2,754.96, a PEG ratio of 0.20 and a beta of 1.62.

Insider Activity at Marks and Spencer Group

In related news, insider Stuart Machin sold 833,949 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of GBX 333, for a total transaction of £2,777,050.17. Also, insider Alison Dolan sold 116,632 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of GBX 333, for a total value of £388,384.56. Corporate insiders own 0.51% of the company's stock.

Marks and Spencer Group Company Profile

M&S has a heritage of quality, innovation and value for money and has been voted the UK's most trusted brand. From these foundations, M&S is reshaping for sustainable profitable growth and value creation. We operate as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands.

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