Canaccord Genuity Group Initiates Coverage on Braemar (LON:BMS)

Equities research analysts at Canaccord Genuity Group started coverage on shares of Braemar (LON:BMS) in a report issued on Wednesday, Digital Look reports. The firm set a “buy” rating and a GBX 410 ($5.41) price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 38.98% from the stock’s previous close.

Braemar Price Performance

Shares of BMS traded down GBX 2 ($0.03) during trading hours on Wednesday, hitting GBX 295 ($3.89). 55,466 shares of the stock were exchanged, compared to its average volume of 65,416. The stock’s 50-day moving average price is GBX 300.44 and its two-hundred day moving average price is GBX 284.45. The company has a debt-to-equity ratio of 43.61, a quick ratio of 1.23 and a current ratio of 1.42. The company has a market cap of £90.15 million, a price-to-earnings ratio of 2,269.23 and a beta of 1.16. Braemar has a 12-month low of GBX 230 ($3.03) and a 12-month high of GBX 317.64 ($4.19).

Insider Buying and Selling at Braemar

In related news, insider Tristram Simmonds sold 12,425 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of GBX 300 ($3.96), for a total value of £37,275 ($49,156.01). In other news, insider James Christopher Duchar Gundy bought 10,000 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average price of GBX 298 ($3.93) per share, with a total value of £29,800 ($39,298.43). Also, insider Tristram Simmonds sold 12,425 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of GBX 300 ($3.96), for a total value of £37,275 ($49,156.01). 51.46% of the stock is owned by corporate insiders.

About Braemar

Braemar Plc provides shipbroking services in the United Kingdom and internationally. It operates in three segments: Chartering, Investment Advisory, and Risk Advisory. The Chartering segment provides shipbroking services for deep sea tankers, specialized tankers, dry cargo, and offshore; cost-saving solutions; freight consultancy; and a vessel database.