Hays plc (LON:HAS – Get Free Report)’s stock price dropped 8.4% during mid-day trading on Monday . The stock traded as low as GBX 29.86 and last traded at GBX 30.08. 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.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Jefferies Financial Group restated an “underperform” rating and set a GBX 28 price target on shares of Hays in a research report on Thursday, May 21st. Citigroup decreased their price objective on Hays from GBX 90 to GBX 75 and set a “buy” rating for the company in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 71.60.
Check Out Our Latest Report on HAS
Hays Stock Down 8.4%
Hays announced that its board has authorized a stock repurchase program on Monday, June 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Insider Activity at Hays
In related news, insider Helen Cunningham bought 6,237 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were acquired at an average cost of GBX 32 per share, with a total value of £1,995.84. Also, insider Mark Dearnley bought 485,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of GBX 30 per share, for a total transaction of £145,650. Insiders purchased a total of 497,461 shares of company stock valued at $14,964,768 in the last 90 days. Corporate insiders own 0.76% of the company’s stock.
About Hays
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