Watches of Switzerland Group (LON:WOSG) Shares Up 2.5% Following Analyst Upgrade

Watches of Switzerland Group plc (LON:WOSG – Get Free Report)’s stock price was up 2.5% during mid-day trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from GBX 560 to GBX 650. Royal Bank Of Canada currently has a sector perform rating on the stock. Watches of Switzerland Group traded as high as GBX 682.50 and last traded at GBX 656.54. Approximately 71,610,563 shares were traded during mid-day trading, an increase of 2,436% from the average daily volume of 2,824,183 shares. The stock had previously closed at GBX 640.50.

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 440 price objective on shares of Watches of Switzerland Group in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Watches of Switzerland Group has an average rating of “Moderate Buy” and a consensus price target of GBX 546.67.

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Insider Activity

In other news, insider Chabi Nouri bought 2,500 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were purchased at an average price of GBX 515 per share, for a total transaction of £12,875. 4.47% of the stock is owned by corporate insiders.

Watches of Switzerland Group Price Performance

The company has a 50 day moving average of GBX 505.85 and a 200-day moving average of GBX 487.67. The firm has a market capitalization of £1.52 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.56 and a beta of 1.80. The company has a current ratio of 1.96, a quick ratio of 0.48 and a debt-to-equity ratio of 107.40.

About Watches of Switzerland Group

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Established in 2007 the Watches of Switzerland Group is the UK’s largest luxury watch retailer, operating in the UK and US comprising eight prestigious brands; Watches of Switzerland (UK and US), Mappin & Webb (UK), Goldsmiths (UK), Mayors (US), Betteridge (US), Deutsch & Deutsch (US), Analog:Shift (US) and Hodinkee (US), with a complementary jewellery offering. Since 8 May 2024, the Group has also owned the exclusive distribution rights for Roberto Coin in the USA, Canada, Central America and the Caribbean.

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