Eleco (LON:ELCO) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Eleco (LON:ELCO) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a GBX 176 ($2.34) target price on the stock.

Eleco Stock Up 2.6 %

Shares of LON ELCO opened at GBX 140 ($1.86) on Thursday. The business has a 50-day moving average of GBX 123.79 and a two-hundred day moving average of GBX 135.10. The company has a market capitalization of £116.64 million, a price-to-earnings ratio of 39.63 and a beta of 0.82. Eleco has a 1 year low of GBX 104.26 ($1.39) and a 1 year high of GBX 152.90 ($2.03). The company has a debt-to-equity ratio of 4.79, a current ratio of 1.01 and a quick ratio of 1.23.

Eleco (LON:ELCO) last posted its earnings results on Thursday, May 1st. The company reported GBX 5.10 ($0.07) earnings per share for the quarter. Eleco had a return on equity of 10.50% and a net margin of 9.46%. On average, analysts forecast that Eleco will post 6 earnings per share for the current fiscal year.

Insider Activity at Eleco

In other news, insider Jonathan Albert Hunter purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of GBX 48 ($0.64) per share, for a total transaction of £9,600 ($12,771.05). Insiders own 51.92% of the company’s stock.

About Eleco