Ninety One Group (LON:N91) Sets New 52-Week High - Time to Buy?

Key Points

• Ninety One Group's shares reached a new 52-week high during trading, peaking at GBX 200.20 ($2.69) before closing at GBX 194.10 ($2.61).
• Following a recent earnings report, JPMorgan Chase & Co. increased their target price for the stock from GBX 178 to GBX 190, maintaining a "neutral" rating.
• Insider Hendrik du Toit purchased 118,000 shares at GBX 196 ($2.63) each, indicating confidence in the company's potential as insiders own 58.29% of the stock.

Ninety One Group (LON:N91 - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 200.20 ($2.65) and last traded at GBX 194.10 ($2.57), with a volume of 63769 shares traded. The stock had previously closed at GBX 193.30 ($2.56).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price objective on shares of Ninety One Group from GBX 178 ($2.36) to GBX 190 ($2.52) and gave the stock a "neutral" rating in a research report on Friday, July 18th.

Ninety One Group Stock Performance

The stock's fifty day moving average is GBX 180.11 and its two-hundred day moving average is GBX 157.49. The firm has a market capitalization of £1.67 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 15.99 and a beta of 0.66. The company has a debt-to-equity ratio of 25.60, a quick ratio of 0.07 and a current ratio of 1.03.

Ninety One Group (LON:N91 - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported GBX 15.50 ($0.21) earnings per share for the quarter. Ninety One Group had a net margin of 26.24% and a return on equity of 42.90%. Analysts forecast that Ninety One Group will post 15.1025641 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Hendrik du Toit purchased 118,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was acquired at an average cost of GBX 196 ($2.60) per share, with a total value of £231,280 ($306,656.06). Insiders own 58.29% of the company's stock.

About Ninety One Group

Ninety One Group operates as an independent global asset manager worldwide. It serves private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations, and central banks, as well as large retail financial groups, wealth managers, public and private equity as well as debt, private banks, and intermediaries.