RS Group plc (LON:RS1 – Get Free Report) shares fell 1.1% on Monday . The company traded as low as GBX 718 and last traded at GBX 727.50. 2,515,201 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 9,243,437 shares. The stock had previously closed at GBX 735.50.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 700 price objective on shares of RS Group in a research report on Thursday, May 21st. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 600 price target on shares of RS Group in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft raised RS Group to a “buy” rating and raised their price objective for the company from GBX 700 to GBX 775 in a report on Wednesday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 675 target price on shares of RS Group in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. increased their target price on RS Group from GBX 635 to GBX 720 and gave the company an “overweight” rating in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, RS Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 696.25.
Get Our Latest Stock Analysis on RS1
RS Group Stock Performance
RS Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 20th that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
RS Group Company Profile
RS Group plc is a high-service global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.
We operate in 33 markets, stock over 875,000 industrial and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably.
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