Essentra (LON:ESNT) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Essentra plc (LON:ESNT)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 83.81 and traded as high as GBX 84.60. Essentra shares last traded at GBX 83.82, with a volume of 1,283,019 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 100 price objective on shares of Essentra in a research report on Thursday, May 21st. Royal Bank Of Canada lowered their target price on Essentra to GBX 130 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Jefferies Financial Group restated a “buy” rating and set a GBX 130 price target on shares of Essentra in a research report on Wednesday, May 20th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 160 price objective on shares of Essentra in a research report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 150.

Essentra Stock Performance

The firm’s fifty day moving average is GBX 83.81 and its 200-day moving average is GBX 91.71. The company has a current ratio of 2.20, a quick ratio of 0.50 and a debt-to-equity ratio of 47.67. The stock has a market capitalization of £237.59 million, a PE ratio of 119.74, a price-to-earnings-growth ratio of 3.84 and a beta of 0.83.

Insider Activity at Essentra

In related news, insider Rowan Baker bought 9,477 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of GBX 84 per share, for a total transaction of £7,960.68. 0.52% of the stock is currently owned by company insiders.

Essentra Company Profile

Essentra plc is a leading global provider of essential components and solutions, focusing on the manufacture and distribution of plastic injection moulded, vinyl dip moulded and metal items.

Headquartered in the United Kingdom, Essentra’s global network extends to 27 countries worldwide and includes c.3,000 employees, 14 manufacturing facilities, 25 distribution centres and 35 sales & service centres serving c.76,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics, medical and renewable energy.