HSBC (LON:HSBA) Hits New 52-Week High – What’s Next?

HSBC Holdings plc (LON:HSBA – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,610 and last traded at GBX 1,592.20, with a volume of 357310250 shares traded. The stock had previously closed at GBX 1,597.40.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HSBA. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,120 price target on shares of HSBC in a report on Tuesday, May 5th. Shore Capital Group upgraded HSBC to a “hold” rating and raised their price objective for the stock from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. Royal Bank Of Canada lifted their target price on HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. HSBC reiterated a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised HSBC to a “neutral” rating and increased their price target for the stock from GBX 1,370 to GBX 1,380 in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 1,301.75.

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View Our Latest Stock Analysis on HSBA

HSBC Trading Down 1.0%

The firm’s 50-day moving average price is GBX 1,445.14 and its two-hundred day moving average price is GBX 1,341.47. The stock has a market cap of £271.32 billion, a PE ratio of 13.08, a PEG ratio of 5.97 and a beta of 0.58.

Insider Transactions at HSBC

In other HSBC news, insider Pam Kaur acquired 2,345 shares of HSBC stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is currently owned by insiders.

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