RS Group (LON:RS1) Trading 2.9% Higher - Here's What Happened

Key Points

• RS Group plc's share price increased by 2.9% during mid-day trading, reaching a last traded price of GBX 565.50 ($7.60), despite a significant drop in trading volume.
• Analysts at Shore Capital have reaffirmed a "buy" rating for RS Group, indicating positive sentiment towards the stock.
• Recent insider trading includes a purchase of 4,883 shares by David J. R. Sleath, highlighting confidence in the company's future performance.

RS Group plc (LON:RS1 - Get Free Report)'s share price traded up 2.9% during mid-day trading on Thursday . The stock traded as high as GBX 570 ($7.67) and last traded at GBX 565.50 ($7.60). 302,139 shares were traded during trading, a decline of 81% from the average session volume of 1,632,452 shares. The stock had previously closed at GBX 549.50 ($7.39).

Analyst Ratings Changes

Separately, Shore Capital reaffirmed a "buy" rating on shares of RS Group in a report on Thursday, July 17th.

RS Group Trading Up 0.2%

The firm has a market cap of £2.67 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. The company has a 50-day simple moving average of GBX 572.37 and a 200 day simple moving average of GBX 579.48. The company has a current ratio of 2.01, a quick ratio of 1.24 and a debt-to-equity ratio of 47.26.

RS Group (LON:RS1 - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported GBX 39.10 ($0.53) earnings per share for the quarter. RS Group had a net margin of 6.24% and a return on equity of 12.99%.

Insider Buying and Selling at RS Group

In related news, insider David J. R. Sleath acquired 4,883 shares of RS Group stock in a transaction on Wednesday, May 28th. The stock was bought at an average cost of GBX 570 ($7.67) per share, for a total transaction of £27,833.10 ($37,430.20). Also, insider Kate Ringrose sold 6,143 shares of RS Group stock in a transaction dated Monday, June 30th. The shares were sold at an average price of GBX 580 ($7.80), for a total transaction of £35,629.40 ($47,914.74). In the last three months, insiders purchased 15,087 shares of company stock valued at $8,550,828. 0.52% of the stock is owned by insiders.

RS Group Company Profile

RS Group plc is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably. We operate in 36 markets, stock over 800,000 technical and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.