SIG (LON:SHI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

SIG plc (LON:SHI)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 9.12 and traded as low as GBX 8.09. SIG shares last traded at GBX 8.65, with a volume of 863,198 shares.

Wall Street Analysts Forecast Growth

SHI has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of SIG from GBX 9 to GBX 8.90 and set a “hold” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada reduced their price objective on shares of SIG from GBX 8.70 to GBX 8 and set a “sector perform” rating for the company in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of GBX 8.45.

SIG Stock Performance

The business has a 50-day moving average price of GBX 8.41 and a 200-day moving average price of GBX 9.12. The firm has a market capitalization of £98.12 million, a price-to-earnings ratio of -1.54, a P/E/G ratio of 1.29 and a beta of 0.73. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 499.09.

SIG (LON:SHI) last issued its quarterly earnings results on Wednesday, March 4th. The company reported GBX (2) earnings per share (EPS) for the quarter. SIG had a negative return on equity of 47.73% and a negative net margin of 2.47%. As a group, sell-side analysts forecast that SIG plc will post 4.1880342 earnings per share for the current year.

Insider Activity

In other news, insider Ian Ashton sold 486,004 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of GBX 8, for a total transaction of £38,880.32. Insiders own 0.97% of the company’s stock.

About SIG

SIG is a leading pan-European provider of specialist insulation and sustainable building products and solutions, differentiated through specialist knowledge, product mix and end markets.

We connect over 75,000 customers with thousands of leading and specialist products and brands from our suppliers. We use our network of around 430 winning branches across local markets with superior customer service, specialist expertise and on-time delivery to add value to both our customers and suppliers.