Babcock International Group (LON:BAB) was downgraded by analysts at Peel Hunt to a “hold” rating in a research report issued to clients and investors on Wednesday, May 22nd, ThisIsMoney.Co.Uk reports. They presently have a GBX 461 ($6.02) target price on the stock, down from their previous target price of GBX 578 ($7.55). Peel Hunt’s target price suggests a potential downside of 0.77% from the company’s previous close.
A number of other brokerages also recently commented on BAB. Liberum Capital restated a “buy” rating on shares of Babcock International Group in a research note on Thursday, March 14th. Shore Capital reissued a “buy” rating on shares of Babcock International Group in a research report on Tuesday, February 26th. Numis Securities reissued a “buy” rating and set a GBX 780 ($10.19) target price on shares of Babcock International Group in a research report on Tuesday, February 5th. Jefferies Financial Group decreased their price target on shares of Babcock International Group from GBX 950 ($12.41) to GBX 900 ($11.76) and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Babcock International Group in a report on Wednesday, May 15th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 621.44 ($8.12).
Shares of LON BAB traded down GBX 8.20 ($0.11) during mid-day trading on Wednesday, hitting GBX 464.60 ($6.07). 1,591,560 shares of the company’s stock traded hands, compared to its average volume of 2,170,000. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 48.99. The stock has a market capitalization of $2.34 billion and a price-to-earnings ratio of 11.79. Babcock International Group has a 1 year low of GBX 410.10 ($5.36) and a 1 year high of GBX 860.40 ($11.24).
In related news, insider Myles Lee bought 5,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of GBX 481 ($6.29) per share, for a total transaction of £24,050 ($31,425.58).
About Babcock International Group
Babcock International Group PLC, together with its subsidiaries, provides engineering services for marine, land, aviation, and nuclear sectors in the United Kingdom and internationally. The company delivers through-life marine engineering services, including supporting naval fleets, commercial marine, engineering consultancy, weapons handling, equipment support, intelligence and cyber-security, and technical training to defense and civil customers.
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