Telecom Plus (LON:TEP) Share Price Breaks Below Two Hundred Day Moving Average - What's Next?

Key Points

• Telecom Plus shares fell below their 200-day moving average, reaching GBX 806 and closing at GBX 809 on heavy volume. The stock’s 200-day average is GBX 999.27, while its 50-day average is GBX 842.72.
• Analyst sentiment weakened as Deutsche Bank downgraded the stock to “Hold” and cut its target to GBX 700, while Berenberg lowered its rating to “Buy” and reduced its target to GBX 1,200. The overall consensus remains “Moderate Buy,” with an average target of GBX 1,500.
• Insiders have been net buyers over the past three months, purchasing 353,691 shares compared with 76,284 sold; corporate insiders own 19.43% of Telecom Plus.

Telecom Plus Plc (LON:TEP - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 999.27 and traded as low as GBX 806. Telecom Plus shares last traded at GBX 809, with a volume of 5,679,728 shares traded.

Analyst Ratings Changes

TEP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Telecom Plus to a "hold" rating and reduced their price objective for the stock from GBX 1,300 to GBX 700 in a research report on Wednesday, July 1st. Berenberg Bank lowered Telecom Plus to a "buy" rating and reduced their target price for the company from GBX 2,600 to GBX 1,200 in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 1,500.

Telecom Plus Stock Up 1.3%

The stock has a 50 day moving average price of GBX 842.72 and a 200 day moving average price of GBX 999.27. The company has a debt-to-equity ratio of 87.91, a quick ratio of 1.28 and a current ratio of 1.58. The company has a market capitalization of £628.45 million, a P/E ratio of 8.10, a PEG ratio of 2.86 and a beta of 0.43.

Insider Buying and Selling at Telecom Plus

In related news, insider Gemma Godfrey bought 637 shares of the company's stock in a transaction on Monday, August 3rd. The shares were purchased at an average cost of GBX 870 per share, for a total transaction of £5,541.90. Also, insider Stuart Burnett purchased 28,125 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of GBX 1 per share, with a total value of £281.25. In the last three months, insiders have bought 353,691 shares of company stock valued at $216,621,352 and have sold 76,284 shares valued at $66,244,620. 19.43% of the stock is currently owned by corporate insiders.

About Telecom Plus

Telecom Plus Plc provides a range of utility services in the United Kingdom. It offers various services, including gas, electricity, fixed line telephony, mobile telephony, broadband, and insurance, as well as bill protection and life cover, home insurance and boiler cover, and cashback card services under the Utility Warehouse and TML brands. Telecom Plus Plc was incorporated in 1996 and is based in London, the United Kingdom.

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