Electrocomponents (LON:ECM) Shares Pass Above Two Hundred Day Moving Average of $595.45

Shares of Electrocomponents plc (LON:ECM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $595.45 and traded as high as $577.20. Electrocomponents shares last traded at $575.20, with a volume of 378,300 shares.

Several analysts have recently issued reports on ECM shares. Numis Securities reaffirmed a “buy” rating on shares of Electrocomponents in a report on Thursday, May 16th. Peel Hunt reaffirmed an “add” rating and issued a GBX 650 ($8.49) target price on shares of Electrocomponents in a research note on Wednesday, July 3rd. UBS Group reissued a “buy” rating and set a GBX 705 ($9.21) price target (up previously from GBX 650 ($8.49)) on shares of Electrocomponents in a research note on Wednesday, July 10th. Liberum Capital restated a “buy” rating and set a GBX 810 ($10.58) price objective on shares of Electrocomponents in a report on Wednesday, July 3rd. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 715 ($9.34) price target on shares of Electrocomponents in a research report on Thursday, July 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Electrocomponents presently has an average rating of “Hold” and an average target price of GBX 686.38 ($8.97).

The business’s 50 day moving average is GBX 585.77 and its 200 day moving average is GBX 595.45. The company has a debt-to-equity ratio of 43.00, a quick ratio of 1.08 and a current ratio of 1.92. The stock has a market cap of $2.56 billion and a price-to-earnings ratio of 17.36.

In other news, insider David Egan sold 130,250 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of GBX 594 ($7.76), for a total transaction of £773,685 ($1,010,956.49). Also, insider Lindsley Ruth sold 19,630 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of GBX 597 ($7.80), for a total transaction of £117,191.10 ($153,130.93).

About Electrocomponents (LON:ECM)

Electrocomponents plc, together with its subsidiaries, distributes various electronics and industrial products in Northern Europe, Southern Europe, Central Europe, the Asia Pacific, and the Americas. The company distributes semiconductor products, including microcontrollers, voltage regulators, transistors, and diodes; and interconnectors, passives, and electromechanical components, such as resistors, switches, and heavy-duty connectors for industrial applications and power supplies.

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