Crest Nicholson (LON:CRST) Trading Down 15% After Analyst Downgrade

Crest Nicholson Holdings plc (LON:CRST) fell 15% during trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 195 to GBX 180. Berenberg Bank currently has a hold rating on the stock. Crest Nicholson traded as low as GBX 138.90 and last traded at GBX 138.90. 3,324,498 shares were traded during mid-day trading, an increase of 136% from the average session volume of 1,409,704 shares. The stock had previously closed at GBX 163.40.

Several other research analysts have also recently issued reports on CRST. Jefferies Financial Group dropped their target price on Crest Nicholson from GBX 254 to GBX 251 and set a “buy” rating on the stock in a research report on Wednesday. Peel Hunt reiterated an “add” rating and issued a GBX 190 price objective on shares of Crest Nicholson in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 202.75.

Crest Nicholson Stock Performance

The business has a 50-day simple moving average of GBX 161.97 and a 200 day simple moving average of GBX 173.58. The company has a debt-to-equity ratio of 12.94, a current ratio of 3.27 and a quick ratio of 0.72. The firm has a market cap of £331.97 million, a PE ratio of -4.51, a PEG ratio of 0.51 and a beta of 2.00.

About Crest Nicholson

Crest Nicholson Holdings plc engages in building residential homes in the United Kingdom. It develops and sells apartments, houses, and commercial properties. The company was founded in 1963 and is headquartered in Addlestone, the United Kingdom.