HSBC (LON:HSBA) Hits New 12-Month High – Should You Buy?

Shares of HSBC Holdings plc (LON:HSBA) hit a new 52-week high on Tuesday . The company traded as high as GBX 1,610 and last traded at GBX 1,592.20, with a volume of 357310250 shares trading hands. The stock had previously closed at GBX 1,597.40.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HSBA. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,120 target price on shares of HSBC in a report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a research report on Tuesday, May 5th. Royal Bank Of Canada boosted their price objective on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. raised shares of HSBC to a “neutral” rating and increased their target price for the company from GBX 1,370 to GBX 1,380 in a research report on Tuesday, July 21st. Finally, HSBC reissued a “hold” rating and set a GBX 1,450 target price on shares of HSBC in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, HSBC presently has an average rating of “Hold” and a consensus target price of GBX 1,301.75.

HSBC Trading Down 1.0%

The company has a 50-day moving average of GBX 1,445.14 and a 200-day moving average of GBX 1,341.47. The company has a market capitalization of £271.32 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58.

Insider Buying and Selling at HSBC

In related news, insider Pam Kaur acquired 2,345 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of GBX 1,340 per share, for a total transaction of £31,423. Insiders own 0.14% of the company’s stock.

About HSBC