Hays (LON:HAS) Trading Down 8.4% – Here’s Why

Hays plc (LON:HAS)’s share price traded down 8.4% during mid-day trading on Monday . The stock traded as low as GBX 29.86 and last traded at GBX 30.08. Approximately 268,502,250 shares changed hands during mid-day trading, an increase of 1,678% from the average daily volume of 15,102,006 shares. The stock had previously closed at GBX 32.83.

Analyst Upgrades and Downgrades

HAS has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Hays from GBX 90 to GBX 75 and set a “buy” rating on the stock in a report on Friday, April 24th. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 28 target price on shares of Hays in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 71.60.

Hays Stock Performance

The business’s fifty day moving average price is GBX 33.19 and its 200-day moving average price is GBX 41.06. The stock has a market cap of £480.98 million, a PE ratio of -45.58, a P/E/G ratio of 0.24 and a beta of 0.77. The company has a debt-to-equity ratio of 65.55, a quick ratio of 1.31 and a current ratio of 1.27.

Hays announced that its Board of Directors has initiated a stock buyback program on Monday, June 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Joe Hurd purchased 5,672 shares of the stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of GBX 35 per share, with a total value of £1,985.20. Also, insider Mark Dearnley purchased 485,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of GBX 30 per share, for a total transaction of £145,650. In the last quarter, insiders purchased 497,461 shares of company stock valued at $14,964,768. Company insiders own 0.76% of the company’s stock.

About Hays