RS Group (LON:RS1) Price Target Raised to GBX 720 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on RS Group to GBX 720 from GBX 635 and kept an overweight rating, implying about 8.11% upside from the current share price.
• Other brokers remain generally positive: Deutsche Bank upgraded RS Group to buy, while RBC and Jefferies also maintained bullish views; overall, the stock has a Moderate Buy consensus with an average target of GBX 696.25.
• RS Group shares opened at GBX 666, near the middle of their GBX 536.90 to GBX 821.71 52-week range, and the company recently reported quarterly EPS of GBX 38.70 along with a board-approved share repurchase plan.

RS Group (LON:RS1 - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from GBX 635 to GBX 720 in a research note issued to investors on Friday,London Stock Exchange reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 8.11% from the stock's current price.

A number of other research firms also recently issued reports on RS1. Berenberg Bank reiterated a "hold" rating and set a GBX 600 price objective on shares of RS Group in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft raised RS Group to a "buy" rating and upped their price target for the stock from GBX 700 to GBX 775 in a research report on Wednesday, July 1st. Royal Bank Of Canada raised their price target on shares of RS Group from GBX 770 to GBX 780 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 700 price objective on shares of RS Group in a report on Thursday, May 21st. Finally, UBS Group reissued a "neutral" rating and issued a GBX 620 price objective on shares of RS Group in a research report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of GBX 696.25.

RS Group Price Performance

Shares of LON RS1 opened at GBX 666 on Friday. The firm has a market cap of £3.07 billion, a PE ratio of 19.30, a PEG ratio of 1.85 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.24 and a debt-to-equity ratio of 35.05. RS Group has a 1-year low of GBX 536.90 and a 1-year high of GBX 821.71. The company has a fifty day moving average price of GBX 631.42 and a 200 day moving average price of GBX 633.86.

RS Group (LON:RS1 - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported GBX 38.70 earnings per share (EPS) for the quarter. The firm had revenue of GBX 288.11 billion for the quarter. RS Group had a return on equity of 11.55% and a net margin of 5.62%.

RS Group declared that its board has authorized a stock repurchase plan on Wednesday, May 20th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

RS Group Company Profile

RS Group plc is a high-service global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably. We operate in 33 markets, stock over 875,000 industrial and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably.

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