Halfords Group (LON:HFD) Stock Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Halfords Group shares broke above their 200-day moving average, reaching GBX 264.50 and closing at GBX 263 amid trading volume of more than 12.3 million shares.
• Analysts raised their price targets, with Shore Capital setting GBX 320 and Canaccord Genuity setting GBX 285; the stock has a consensus “Buy” rating and an average target of GBX 302.50.
• Halfords has a market capitalization of approximately £569.6 million, a P/E ratio of 18.01, and provides motoring, vehicle servicing, cycling products, and related services across the UK.

Halfords Group plc (LON:HFD - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 213.66 and traded as high as GBX 264.50. Halfords Group shares last traded at GBX 263, with a volume of 12,334,441 shares changing hands.

Analysts Set New Price Targets

HFD has been the subject of a number of analyst reports. Shore Capital Group boosted their price target on Halfords Group from GBX 260 to GBX 320 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Canaccord Genuity Group raised their price target on Halfords Group from GBX 255 to GBX 285 and gave the company a "buy" rating in a report on Friday, September 4th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of GBX 302.50.

Halfords Group Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.41 and a debt-to-equity ratio of 48.29. The business's fifty day moving average is GBX 256.03 and its 200 day moving average is GBX 213.66. The firm has a market capitalization of £569.61 million, a P/E ratio of 18.01, a P/E/G ratio of 2.80 and a beta of 1.25.

Halfords Group Company Profile

HALFORDS IS THE UK'S LEADING PROVIDER OF MOTORING AND CYCLING PRODUCTS AND SERVICES. Through Halfords Autocentres, it is also one of the UK's leading independent operators in vehicle, servicing, maintenance and repairs. We are a market-leading business, with unique and differentiated products and services. Our unique mix of stores, garages, mobile vans and home delivery means we can offer customers unparalleled convenience in the motoring and cycling markets... ...We know that our customers want us to be there for them, when they need us.

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