Electrocomponents (ECM) Rating Increased to Buy at Numis Securities

Electrocomponents (LON:ECM) was upgraded by Numis Securities to a “buy” rating in a report issued on Thursday. The brokerage currently has a GBX 705 ($9.90) target price on the stock. Numis Securities’ target price would suggest a potential upside of 18.57% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Liberum Capital reaffirmed a “buy” rating on shares of Electrocomponents in a research report on Thursday. Peel Hunt raised Electrocomponents to an “add” rating in a research report on Thursday. Shore Capital reaffirmed a “sell” rating on shares of Electrocomponents in a research report on Monday, February 5th. Credit Suisse Group upped their price objective on Electrocomponents from GBX 575 ($8.07) to GBX 590 ($8.28) and gave the stock an “underperform” rating in a research report on Wednesday, January 3rd. Finally, Berenberg Bank began coverage on Electrocomponents in a research report on Tuesday, December 12th. They set a “hold” rating and a GBX 590 ($8.28) price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 622.40 ($8.74).

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ECM stock opened at GBX 594.60 ($8.35) on Thursday. Electrocomponents has a fifty-two week low of GBX 467.90 ($6.57) and a fifty-two week high of GBX 713.05 ($10.01).

In related news, insider Lindsley Ruth sold 121,164 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of GBX 626 ($8.79), for a total transaction of £758,486.64 ($1,064,692.08).

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About Electrocomponents

Electrocomponents plc, together with its subsidiaries, distributes various electronics and industrial products in Northern Europe, Southern Europe, Central Europe, the Asia Pacific, North America, and internationally. The company distributes semiconductor products, including microcontrollers, voltage regulators, transistors, and diodes; and interconnectors, passives, and electromechanical components, such as resistors, switches, and heavy-duty connectors for industrial applications and power supplies.

Analyst Recommendations for Electrocomponents (LON:ECM)

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