Baltic Classifieds Group (LON:BCG) Shares Down 15.3% After Analyst Downgrade

Baltic Classifieds Group PLC (LON:BCG) shares dropped 15.3% during mid-day trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 360 to GBX 335. Berenberg Bank currently has a buy rating on the stock. Baltic Classifieds Group traded as low as GBX 168 and last traded at GBX 186. Approximately 22,166,805 shares changed hands during mid-day trading, an increase of 820% from the average daily volume of 2,408,758 shares. The stock had previously closed at GBX 219.50.

Several other equities research analysts have also issued reports on BCG. Deutsche Bank Aktiengesellschaft raised shares of Baltic Classifieds Group to a “buy” rating and increased their target price for the company from GBX 366 to GBX 373 in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Baltic Classifieds Group from GBX 194 to GBX 208 and gave the stock an “underweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 316.50.

Baltic Classifieds Group Price Performance

The firm has a market capitalization of £840.98 million, a PE ratio of 18.86, a PEG ratio of 1.62 and a beta of 1.43. The company has a quick ratio of 2.36, a current ratio of 2.05 and a debt-to-equity ratio of 13.70. The stock has a 50-day moving average price of GBX 270.61 and a 200 day moving average price of GBX 321.20.

About Baltic Classifieds Group

Baltic Classifieds Group (BCG) is the leading online classifieds group in the Baltics, which owns and operates twelve leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania. BCG’s online classifieds portfolio comprises four business lines – automotive, real estate, jobs & services and generalist.