HSBC (LON:HSBA) Sets New 12-Month High – Time to Buy?

HSBC Holdings plc (LON:HSBAGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 1,562.80 and last traded at GBX 1,559.40, with a volume of 219499984 shares changing hands. The stock had previously closed at GBX 1,552.80.

Analysts Set New Price Targets

A number of research analysts have recently commented on HSBA shares. Shore Capital Group raised shares of HSBC to a “hold” rating and boosted their target price for the stock from GBX 1,210 to GBX 1,250 in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of HSBC to a “neutral” rating and raised their price target for the company from GBX 1,370 to GBX 1,380 in a report on Tuesday, July 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research note on Tuesday, May 5th. UBS Group reiterated a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. Finally, HSBC reissued a “hold” rating and issued a GBX 1,450 price objective on shares of HSBC in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of GBX 1,301.75.

Read Our Latest Stock Analysis on HSBA

HSBC Price Performance

The business’s 50-day moving average price is GBX 1,419.45 and its two-hundred day moving average price is GBX 1,326.01. The firm has a market cap of £267.68 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 5.97 and a beta of 0.56.

Insider Buying and Selling

In related news, insider Pam Kaur acquired 2,345 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is owned by company insiders.

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