Hastings Group (LON:HSTG) Price Target Cut to GBX 195

Hastings Group (LON:HSTG) had its target price reduced by Credit Suisse Group from GBX 200 ($2.61) to GBX 195 ($2.55) in a report published on Monday, ThisIsMoney.Co.Uk reports. Credit Suisse Group currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on HSTG. Barclays dropped their price target on Hastings Group from GBX 250 ($3.27) to GBX 220 ($2.87) and set an overweight rating on the stock in a research note on Friday, August 9th. Peel Hunt reissued an add rating and issued a GBX 220 ($2.87) price target (down previously from GBX 240 ($3.14)) on shares of Hastings Group in a research note on Thursday, August 8th. Berenberg Bank decreased their price objective on Hastings Group from GBX 228 ($2.98) to GBX 221 ($2.89) and set a buy rating for the company in a research report on Friday, August 9th. Numis Securities restated an add rating on shares of Hastings Group in a research report on Thursday, May 16th. Finally, Canaccord Genuity decreased their price objective on Hastings Group from GBX 250 ($3.27) to GBX 235 ($3.07) and set a buy rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of GBX 210.79 ($2.75).

Shares of HSTG opened at GBX 181 ($2.37) on Monday. The business’s 50-day moving average price is GBX 195.78 and its 200 day moving average price is GBX 201.82. The stock has a market capitalization of $1.20 billion and a P/E ratio of 12.48. Hastings Group has a 1-year low of GBX 169.50 ($2.21) and a 1-year high of GBX 277 ($3.62). The company has a current ratio of 0.91, a quick ratio of 0.23 and a debt-to-equity ratio of 40.13.

The firm also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 3rd will be given a dividend of GBX 4.50 ($0.06) per share. The ex-dividend date is Thursday, October 3rd. This represents a yield of 2.54%. Hastings Group’s payout ratio is presently 0.97%.

Hastings Group Company Profile

Hastings Group Holdings plc, together with its subsidiaries, underwrites general insurance products in the United Kingdom. It is involved in the underwriting and brokerage of car, van, bike, and home insurance under various brands, including Hastings Direct, Hastings PREMIER, Hastings ESSENTIAL, Hastings Direct SmartMiles, InsurePink, and People's Choice.

Further Reading: Calculating net profit and net profit margin ratio

Analyst Recommendations for Hastings Group (LON:HSTG)

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