Frasers Group (LON:FRAS) Sets New 1-Year High – Here’s What Happened

Frasers Group Plc (LON:FRAS) hit a new 52-week high on Thursday . The stock traded as high as GBX 792 and last traded at GBX 790.50, with a volume of 308690 shares. The stock had previously closed at GBX 771.

Key Stories Impacting Frasers Group

Here are the key news stories impacting Frasers Group this week:

• Positive Sentiment: Frasers Group launched a roughly €2 billion takeover bid for Hugo Boss, a move that could give it control of a globally recognized luxury-fashion brand and broaden its retail portfolio. Mike Ashley’s Frasers makes €1.98bn takeover bid for Hugo Boss
• Positive Sentiment: The bid comes as Hugo Boss is described as struggling, which may mean Frasers sees an opportunity to buy a well-known brand at an attractive price and improve its earnings mix over time. Frasers Group launches €2 billion takeover offer for struggling Hugo Boss
• Neutral Sentiment: Separate reports said Frasers is also considering a bid for the Metrocentre shopping complex, reinforcing its strategy of building out retail assets, though this looks less immediately material than the Hugo Boss offer. Frasers Group mulls £500m bid for Metrocentre

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,100 price target on shares of Frasers Group in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of GBX 950.

Frasers Group Stock Performance

The firm has a fifty day moving average of GBX 692.89 and a 200-day moving average of GBX 689.45. The stock has a market capitalization of £3.42 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.30 and a beta of 1.22. The company has a quick ratio of 0.64, a current ratio of 2.08 and a debt-to-equity ratio of 98.60.

Frasers Group Company Profile

Frasers Group Plc, together with its subsidiaries, retails sports and leisure clothing, footwear, equipment, accessories, and apparel through department stores, shops, and online in the United Kingdom, Europe, the United States, Asia, Oceania, and internationally. The company operates through four segments: UK Sports Retail, Premium Lifestyle, International Retail, and Wholesale & Licensing. It is also involved in the wholesale distribution and sale of sports and leisure clothing, footwear, equipment, and apparel; and licensing activities.