Zotefoams (LON:ZTF) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Zotefoams plc's stock has surpassed its 200-day moving average, indicating a possible upward trend, with shares traded at GBX 390 ($5.30).
• Analysts from Berenberg Bank have reaffirmed a "buy" rating for Zotefoams, with a target price of GBX 540, reflecting positive market sentiment.
• The company reported earnings of GBX 19.99 per share for the last quarter, showcasing a net margin of 7.45% and a return on equity of 8.42%.

Zotefoams plc (LON:ZTF - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 307.21 ($4.19) and traded as high as GBX 395.39 ($5.40). Zotefoams shares last traded at GBX 390 ($5.32), with a volume of 83,092 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 540 price target on shares of Zotefoams in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of GBX 540.

Zotefoams Stock Down 0.3%

The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 42.07. The firm has a 50-day moving average of GBX 365.36 and a two-hundred day moving average of GBX 309.86. The company has a market capitalization of £189.06 million, a PE ratio of 33,739.13, a price-to-earnings-growth ratio of 0.66 and a beta of 1.40.

Zotefoams (LON:ZTF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported GBX 19.99 earnings per share for the quarter. Zotefoams had a return on equity of 8.42% and a net margin of 7.45%.

Zotefoams Company Profile

Zotefoams plc, together with its subsidiaries, manufactures, distributes, and sells polyolefin block foams in the United Kingdom, rest of Europe, North America, and internationally. The company operates through Polyolefin Foams, High-Performance Products, and MuCell Extrusion LLC segments. It offers AZOTE, a polyolefin foam under the Plastazote, Evazote, and Supazote, AZOTE Adapt brands; and various high-performance foams manufactured from fluoropolymers, engineering polymers, and specialty elastomers under the ZOTEK brand; and Ecozote foam for plastic products that offers circularity and reduce reliance on fossil fuel-derived raw materials.