Johnson Matthey (LON:JMAT) Stock Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• Johnson Matthey shares rose above their 200-day moving average, reaching GBX 2,426 and closing around GBX 2,422, compared with a 200-day average of GBX 2,094.62.
• Analysts remain broadly positive, with four Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of GBX 2,283.33.
• Insiders purchased 28,636 shares worth approximately $65 million during the last quarter, including a purchase of 17,635 shares by insider Richard Pike.

Shares of Johnson Matthey PLC (LON:JMAT - Get Free Report) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 2,094.62 and traded as high as GBX 2,426. Johnson Matthey shares last traded at GBX 2,422, with a volume of 374,107 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JMAT. Jefferies Financial Group restated a "buy" rating and issued a GBX 2,330 price objective on shares of Johnson Matthey in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 2,400 target price on shares of Johnson Matthey in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 2,283.33.

Johnson Matthey Stock Performance

The company has a debt-to-equity ratio of 69.69, a current ratio of 1.56 and a quick ratio of 0.76. The company has a market capitalization of £3.05 billion, a PE ratio of -31.76, a price-to-earnings-growth ratio of 49,242.50 and a beta of 0.93. The firm's fifty day simple moving average is GBX 2,237.98 and its 200 day simple moving average is GBX 2,094.62.

Insider Buying and Selling at Johnson Matthey

In related news, insider Richard Pike bought 17,635 shares of the stock in a transaction dated Friday, September 11th. The shares were purchased at an average price of GBX 2,248 per share, for a total transaction of £396,434.80. Also, insider Alastair Judge bought 12 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of GBX 2,193 per share, for a total transaction of £263.16. In the last quarter, insiders purchased 28,636 shares of company stock worth $64,995,344. Insiders own 0.74% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.