Johnson Matthey (LON:JMAT) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Johnson Matthey shares broke above their 200-day moving average, reaching GBX 2,298 before last trading at GBX 2,268, with 385,100 shares changing hands.
• Analysts remain broadly positive: four rate the stock Buy and two Hold, producing a consensus “Moderate Buy” rating and an average price target of GBX 2,283.33.
• The company reported quarterly EPS of GBX 128.50 but continued to post a negative net margin and return on equity; insiders have purchased 11,474 shares worth approximately $24.7 million over the past 90 days.

Johnson Matthey PLC (LON:JMAT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 2,058.68 and traded as high as GBX 2,298. Johnson Matthey shares last traded at GBX 2,268, with a volume of 385,100 shares changing hands.

Analyst Upgrades and Downgrades

JMAT has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a GBX 2,330 target price on shares of Johnson Matthey in a research report on Tuesday, August 4th. Berenberg Bank lifted their price target on Johnson Matthey from GBX 2,100 to GBX 2,300 and gave the company a "buy" rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 2,400 price objective on shares of Johnson Matthey in a research note on Monday, July 6th. Finally, UBS Group reiterated a "neutral" rating and set a GBX 2,200 price objective on shares of Johnson Matthey in a report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 2,283.33.

Johnson Matthey Price Performance

The company's 50 day moving average price is GBX 2,046.44 and its 200-day moving average price is GBX 2,058.68. The company has a market capitalization of £3.81 billion, a PE ratio of -39.65, a PEG ratio of 49,242.50 and a beta of 0.94. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 69.69.

Johnson Matthey (LON:JMAT - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported GBX 128.50 EPS for the quarter. Johnson Matthey had a negative return on equity of 4.66% and a negative net margin of 0.76%.The business had revenue of GBX 1,257.30 billion during the quarter. On average, sell-side analysts forecast that Johnson Matthey PLC will post 173.4112903 earnings per share for the current fiscal year.

Insider Transactions at Johnson Matthey

In other news, insider Liam Condon acquired 14 shares of the business's stock in a transaction dated Friday, July 10th. The shares were bought at an average cost of GBX 1,909 per share, for a total transaction of £267.26. Also, insider Richard Pike acquired 14 shares of Johnson Matthey stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average cost of GBX 1,990 per share, for a total transaction of £278.60. Over the last ninety days, insiders have purchased 11,474 shares of company stock valued at $24,674,470. Insiders own 0.58% of the company's stock.

Johnson Matthey Company Profile

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. Today more than 13,000 Johnson Matthey professionals collaborate with their network of customers and partners to make a real difference to the world around us.

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