SIG (LON:SHI) Stock Price Down 2.2% – Here’s What Happened

SIG plc (LON:SHI)’s stock price fell 2.2% during mid-day trading on Thursday. The stock traded as low as GBX 8.80 and last traded at GBX 8.90. Approximately 1,697,103 shares traded hands during trading, an increase of 45% from the average daily volume of 1,170,231 shares. The stock had previously closed at GBX 9.10.

Analysts Set New Price Targets

SHI has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on SIG from GBX 8.90 to GBX 9.60 and gave the company a “hold” rating in a research report on Friday, August 21st. Peel Hunt reaffirmed a “buy” rating and set a GBX 14 price target on shares of SIG in a research note on Tuesday, August 4th. Finally, Deutsche Bank reiterated a “sell” rating and issued a GBX 5 price objective on shares of SIG in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 9.15.

SIG Trading Down 2.2%

The stock has a market capitalization of £102.86 million, a P/E ratio of -2.02, a PEG ratio of 1.29 and a beta of 0.65. The company has a debt-to-equity ratio of 597.00, a current ratio of 1.36 and a quick ratio of 1.10. The business’s 50 day simple moving average is GBX 9.25 and its 200-day simple moving average is GBX 8.83.

Insider Activity at SIG

In related news, insider Simon Kesterton purchased 65,000 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were bought at an average price of GBX 9 per share, with a total value of £5,850. In the last three months, insiders have acquired 365,000 shares of company stock worth $3,285,000. Insiders own 1.22% of the company’s stock.

SIG Company Profile

SIG is a leading pan-European provider of specialist insulation and sustainable building products and solutions, differentiated through specialist knowledge, product mix and end markets. We connect over 75,000 customers with thousands of leading and specialist products and brands from our suppliers. We use our network of around 430 winning branches across local markets with superior customer service, specialist expertise and on-time delivery to add value to both our customers and suppliers.