Berenberg Bank Reiterates "Buy" Rating for MJ Gleeson (LON:GLE)

Key Points

• Analysts at Berenberg Bank have reiterated a "buy" rating for MJ Gleeson, setting a target price of GBX 500, indicating potential upside of 39.66% from the current stock price.
• MJ Gleeson reported an earnings per share (EPS) of GBX 28.88 for the last quarter, with expectations of around 35.14 EPS for the current fiscal year.
• Insider Nicola Bruce purchased 2,721 shares at an average price of GBX 370, part of a broader trend where insiders have bought 2,943 shares worth over £1 million in the last quarter.

MJ Gleeson (LON:GLE - Get Free Report)'s stock had its "buy" rating restated by Berenberg Bank in a report released on Wednesday, MarketBeat reports. They presently have a GBX 500 price target on the stock. Berenberg Bank's price objective would indicate a potential upside of 29.87% from the company's previous close.

MJ Gleeson Trading Up 5.2%

GLE traded up GBX 19 during trading on Wednesday, reaching GBX 385. 198,018 shares of the stock traded hands, compared to its average volume of 157,388. The company has a quick ratio of 0.89, a current ratio of 5.79 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of £224.75 million, a PE ratio of 1,363.80 and a beta of 1.14. The stock's 50-day moving average is GBX 353.03 and its 200 day moving average is GBX 421.07. MJ Gleeson has a 12 month low of GBX 320 and a 12 month high of GBX 654.

MJ Gleeson (LON:GLE - Get Free Report) last issued its quarterly earnings results on Tuesday, September 16th. The company reported GBX 28.88 EPS for the quarter. MJ Gleeson had a net margin of 5.59% and a return on equity of 6.60%. Equities analysts anticipate that MJ Gleeson will post 35.1412429 earnings per share for the current year.

Insider Transactions at MJ Gleeson

In related news, insider Nicola Bruce acquired 2,721 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were bought at an average price of GBX 370 per share, with a total value of £10,067.70. Also, insider Graham Prothero acquired 8,571 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were bought at an average cost of GBX 350 per share, for a total transaction of £29,998.50. Insiders have bought a total of 11,514 shares of company stock worth $4,086,114 in the last three months. Insiders own 13.22% of the company's stock.

About MJ Gleeson

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land. Gleeson Homes is the leading low-cost, affordable housebuilder with the vision of "Building Homes. Changing Lives." Focusing on areas where affordable housing is most needed in the Midlands and North of England, Gleeson Homes' average selling price was £193,900, 34% lower than other housebuilders average selling price of £291,700 in the same geographic regions.