Clarkson (LON:CKN) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Clarkson PLC (LON:CKN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4,408.77 and traded as high as GBX 4,474. Clarkson shares last traded at GBX 4,474, with a volume of 60,647 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CKN. Berenberg Bank increased their target price on Clarkson from GBX 4,750 to GBX 5,250 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Canaccord Genuity Group upgraded shares of Clarkson to a “hold” rating and upped their price target for the stock from GBX 4,400 to GBX 4,650 in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Clarkson from GBX 4,850 to GBX 4,950 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Clarkson has a consensus rating of “Moderate Buy” and a consensus target price of GBX 4,775.

Clarkson Stock Performance

The stock has a market cap of £1.37 billion, a price-to-earnings ratio of 21.01 and a beta of 0.69. The company has a current ratio of 1.78, a quick ratio of 1.69 and a debt-to-equity ratio of 10.66. The firm has a fifty day simple moving average of GBX 4,643.67 and a 200-day simple moving average of GBX 4,408.77.

Insiders Place Their Bets

In other news, insider Constantin Cotzias purchased 1,127 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of GBX 4,412 per share, with a total value of £49,723.24. Also, insider Jeff Woyda sold 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of GBX 4,778, for a total value of £2,866,800. Insiders own 5.57% of the company’s stock.

About Clarkson

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation. Its Financial segment provides investment banking services for maritime, oil services, and natural resources sectors; structured asset finance services and projects in the shipping, offshore, and real estate sectors; and project finance and bespoke asset finance solutions.