Severfield (LON:SFR) Shares Cross Above 200-Day Moving Average – Here’s Why

Severfield plc (LON:SFR) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 29.30 and traded as high as GBX 38. Severfield shares last traded at GBX 37.40, with a volume of 596,544 shares trading hands.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 40 price objective on shares of Severfield in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Severfield presently has an average rating of “Buy” and a consensus price target of GBX 44.

Severfield Stock Up 0.9%

The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 48.45. The company has a 50-day simple moving average of GBX 32.63 and a two-hundred day simple moving average of GBX 29.30. The stock has a market cap of £111.47 million, a P/E ratio of -3.14 and a beta of 0.92.

Severfield (LON:SFR) last issued its earnings results on Wednesday, June 24th. The company reported GBX (12.03) earnings per share (EPS) for the quarter. Severfield had a negative return on equity of 22.06% and a negative net margin of 7.84%.The firm had revenue of £454.25 million during the quarter. On average, equities analysts forecast that Severfield plc will post 8.9704209 EPS for the current year.

Insider Activity at Severfield

In other news, insider Paul McNerney acquired 2,716 shares of the stock in a transaction dated Tuesday, July 14th. The stock was purchased at an average cost of GBX 36 per share, with a total value of £977.76. Company insiders own 2.94% of the company’s stock.

Severfield Company Profile

Severfield is the largest specialist structural steelwork group in the UK, with a growing presence in India and Europe and a reputation for performance and innovation.

Operating on an international scale, Severfield is widely recognised for its iconic structures, engineering excellence, and unparalleled customer service.

We have the design, experience and engineering skills to serve a diverse range of market sectors, from education and hospitals to bridges and commercial offices.

We approach every project, from the highly technical to basic structural work, with the same level of safety, professionalism, commitment, care and customer service.

Our people make Severfield the success story it is today.