Baltic Classifieds Group (LON:BCG) Stock Price Down 19.7% Following Analyst Downgrade

Baltic Classifieds Group PLC (LON:BCG)’s share price dropped 19.7% on Thursday after Berenberg Bank lowered their price target on the stock from GBX 360 to GBX 335. Berenberg Bank currently has a buy rating on the stock. Baltic Classifieds Group traded as low as GBX 173 and last traded at GBX 176.20. Approximately 207,118,516 shares were traded during mid-day trading, an increase of 6,388% from the average daily volume of 3,192,452 shares. The stock had previously closed at GBX 219.50.

A number of other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Baltic Classifieds Group to a “buy” rating and increased their target price for the stock from GBX 366 to GBX 373 in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Baltic Classifieds Group from GBX 194 to GBX 208 and gave the company an “underweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 316.50.

Baltic Classifieds Group Stock Performance

The business’s fifty day moving average price is GBX 270.61 and its 200-day moving average price is GBX 321.20. The stock has a market cap of £840.98 million, a PE ratio of 18.86, a P/E/G ratio of 1.62 and a beta of 1.43. The company has a debt-to-equity ratio of 13.70, a quick ratio of 2.36 and a current ratio of 2.05.

About Baltic Classifieds Group

Baltic Classifieds Group (BCG) is the leading online classifieds group in the Baltics, which owns and operates twelve leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania. BCG’s online classifieds portfolio comprises four business lines – automotive, real estate, jobs & services and generalist.