Rathbones Group (LON:RAT) Share Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• Rathbones Group shares fell below their 200-day moving average, with the stock trading as low as GBX 1,642 and last changing hands at GBX 1,698. This technical move may signal continued weakness after recent pressure on the share price.
• Analyst sentiment is mixed: Jefferies kept an underperform rating with a GBX 1,780 target, while RBC cut its target from GBX 2,400 to GBX 1,950 but still rates the stock outperform. The consensus rating remains Hold with an average target price of GBX 1,982.50.
• The company also authorized a share buyback program, and insiders have been buying shares recently, including purchases by Iain Cummings and Clive Bannister. These actions may indicate management and insiders see value in the stock at current levels.

Rathbones Group Plc (LON:RAT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,990.74 and traded as low as GBX 1,642. Rathbones Group shares last traded at GBX 1,698, with a volume of 2,049,480 shares changing hands.

Wall Street Analyst Weigh In

RAT has been the topic of a number of recent analyst reports. Jefferies Financial Group restated an "underperform" rating and set a GBX 1,780 target price on shares of Rathbones Group in a report on Wednesday, June 17th. Royal Bank Of Canada decreased their price objective on shares of Rathbones Group from GBX 2,400 to GBX 1,950 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rathbones Group presently has a consensus rating of "Hold" and an average target price of GBX 1,982.50.

Rathbones Group Stock Up 2.7%

The stock has a market cap of £1.75 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of -26.52 and a beta of 0.72. The firm has a 50 day simple moving average of GBX 1,810.15 and a 200-day simple moving average of GBX 1,990.74. The company has a quick ratio of 0.14, a current ratio of 190.82 and a debt-to-equity ratio of 14.65.

Rathbones Group declared that its board has authorized a share repurchase program on Wednesday, June 17th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Rathbones Group news, insider Iain Cummings purchased 800 shares of the business's stock in a transaction on Friday, June 19th. The stock was acquired at an average price of GBX 1,622 per share, with a total value of £12,976. Also, insider Clive Bannister purchased 15,300 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were acquired at an average cost of GBX 1,638 per share, with a total value of £250,614. Insiders have acquired a total of 33,236 shares of company stock worth $54,276,234 in the last quarter. Insiders own 1.65% of the company's stock.

About Rathbones Group

With roots dating back to 1742, Rathbones is one of the UK's leading providers of investment and wealth management services for private clients (individuals and families), charities, trustees and professional partners. Rathbones' purpose is to help more people invest their money well, so they can live well. Rathbones has been trusted for generations to manage, preserve and grow clients' wealth and services include discretionary investment management, fund management, tax planning, trust and company management, financial advice and banking services.

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