FirstGroup (LON:FGP) Price Target Raised to GBX 124 at Canaccord Genuity

FirstGroup (LON:FGP) had its price target raised by Canaccord Genuity from GBX 109 ($1.42) to GBX 124 ($1.62) in a research note released on Wednesday morning, Digital Look reports. They currently have a hold rating on the transport operator’s stock.

A number of other analysts have also commented on FGP. Liberum Capital boosted their price target on FirstGroup from GBX 130 ($1.70) to GBX 140 ($1.83) and gave the company a buy rating in a report on Wednesday, August 14th. Royal Bank of Canada restated an outperform rating on shares of FirstGroup in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut their price target on FirstGroup from GBX 145 ($1.89) to GBX 142 ($1.86) and set an overweight rating on the stock in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of GBX 124.14 ($1.62).

Shares of FirstGroup stock opened at GBX 127.70 ($1.67) on Wednesday. The firm has a market cap of $1.55 billion and a price-to-earnings ratio of -23.22. The stock’s 50-day moving average is GBX 112.92 and its 200-day moving average is GBX 103.21. FirstGroup has a one year low of GBX 77.95 ($1.02) and a one year high of GBX 129.10 ($1.69). The company has a debt-to-equity ratio of 108.25, a current ratio of 1.01 and a quick ratio of 0.87.

In related news, insider Ryan Mangold bought 47,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of GBX 119 ($1.55) per share, for a total transaction of £56,525 ($73,859.92). Insiders have purchased 47,920 shares of company stock worth $5,697,368 in the last quarter.

FirstGroup Company Profile

FirstGroup plc provides passenger transport services. The company's First Student segment provides student transportation services through a fleet of approximately 44,000 yellow school buses in North America. This segment also offers charter hire services for school and non-school activities. Its First Transit segment offers public transit management and contracting services, including fixed route, paratransit, shuttle, and vehicle maintenance services to transit authorities, such as federal, state, and local transportation departments, as well as for private institutions, including universities, hospitals, and airports in North America.

Read More: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for FirstGroup (LON:FGP)

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