Micro Focus International plc (LON:MCRO) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 1,973.50 ($27.27) and last traded at GBX 1,977 ($27.31), with a volume of 1279957 shares trading hands. The stock had previously closed at GBX 1,977 ($27.31).
Several equities research analysts recently issued reports on MCRO shares. Numis Securities cut Micro Focus International to an “add” rating and set a GBX 2,980 ($41.17) price target for the company. in a research note on Monday, January 8th. JPMorgan Chase & Co. cut their price target on Micro Focus International from GBX 2,700 ($37.30) to GBX 2,500 ($34.54) and set a “neutral” rating for the company in a research note on Wednesday, January 17th. Goldman Sachs Group began coverage on shares of Micro Focus International in a research report on Wednesday, December 13th. They set a “neutral” rating and a GBX 2,600 ($35.92) price objective for the company. Canaccord Genuity restated a “buy” rating and set a GBX 2,880 ($39.79) price objective on shares of Micro Focus International in a research report on Tuesday, November 28th. Finally, Deutsche Bank downgraded shares of Micro Focus International to a “hold” rating and set a GBX 2,800 ($38.68) price objective for the company. in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of GBX 2,486.20 ($34.35).
The firm has a market cap of $8,600.00 and a PE ratio of 4,027.55.
In related news, insider Darren Roos purchased 3,101 shares of the stock in a transaction dated Wednesday, January 10th. The stock was bought at an average cost of GBX 2,257 ($31.18) per share, for a total transaction of £69,989.57 ($96,697.39).
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About Micro Focus International
Micro Focus International plc is a United Kingdom-based global software company. The Company is engaged in delivering and supporting software solutions. The Company enables customers to utilize new technology solutions while maximizing the value of their investments in information technology (IT) infrastructure and business applications.
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