Serco Group (LON:SRP) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Serco Group's share price has surpassed its 200-day moving average, reaching a high of GBX 237.80 ($3.21) during trading.
• Analysts generally hold a "Hold" rating on Serco Group, with target prices ranging from GBX 215 to GBX 273 and an average consensus target of GBX 247.
• Insider John Rishton purchased 43,086 shares at an average price of GBX 225, indicative of insider confidence in the company's performance.

Serco Group plc (LON:SRP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 197.63 ($2.66) and traded as high as GBX 237.80 ($3.21). Serco Group shares last traded at GBX 236.02 ($3.18), with a volume of 1,400,194 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SRP shares. Shore Capital restated a "hold" rating on shares of Serco Group in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on Serco Group from GBX 210 to GBX 215 and gave the company a "hold" rating in a research note on Friday, August 8th. Citigroup dropped their price target on Serco Group from GBX 281 to GBX 273 and set a "buy" rating for the company in a research note on Friday, August 29th. Berenberg Bank reiterated a "buy" rating and issued a GBX 270 price objective on shares of Serco Group in a report on Tuesday, September 2nd. Finally, Jefferies Financial Group raised their price objective on Serco Group from GBX 175 to GBX 230 and gave the company a "hold" rating in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of GBX 247.

Serco Group Trading Up 0.3%

The firm's 50-day simple moving average is GBX 223.18 and its 200-day simple moving average is GBX 197.63. The firm has a market capitalization of £2.37 billion, a PE ratio of 4,717.13, a price-to-earnings-growth ratio of 3.06 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 0.91 and a debt-to-equity ratio of 62.40.

Serco Group (LON:SRP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported GBX 9.74 EPS for the quarter. Serco Group had a return on equity of 13.70% and a net margin of 2.87%. Equities analysts expect that Serco Group plc will post 17.552759 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Rishton acquired 43,086 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was purchased at an average price of GBX 225 per share, with a total value of £96,943.50. Insiders own 1.00% of the company's stock.

About Serco Group

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