Canaccord Genuity Group Forecasts Strong Price Appreciation for Clarkson (LON:CKN) Stock

Clarkson (LON:CKN) had its target price raised by analysts at Canaccord Genuity Group from GBX 4,000 to GBX 4,400 in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 6.80% from the company’s current price.

Separately, Peel Hunt reiterated a “buy” rating and set a GBX 4,250 target price on shares of Clarkson in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Clarkson presently has a consensus rating of “Buy” and a consensus target price of GBX 4,262.50.

Clarkson Trading Down 1.1%

Shares of CKN stock traded down GBX 45 during mid-day trading on Monday, reaching GBX 4,120. 48,422 shares of the stock traded hands, compared to its average volume of 93,596. The company has a market cap of £1.27 billion, a price-to-earnings ratio of 16.90 and a beta of 1.12. The company has a quick ratio of 1.69, a current ratio of 1.79 and a debt-to-equity ratio of 8.45. The stock’s fifty day simple moving average is GBX 3,726.52 and its two-hundred day simple moving average is GBX 3,583.64. Clarkson has a 1-year low of GBX 2,630 and a 1-year high of GBX 4,535.

Insiders Place Their Bets

In other news, insider Constantin Cotzias bought 742 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The shares were acquired at an average price of GBX 3,485 per share, for a total transaction of £25,858.70. 5.59% of the stock is owned by corporate insiders.

Clarkson Company Profile

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation. Its Financial segment provides investment banking services for maritime, oil services, and natural resources sectors; structured asset finance services and projects in the shipping, offshore, and real estate sectors; and project finance and bespoke asset finance solutions.