Marks and Spencer Group (LON:MKS) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Marks and Spencer Group plc (LON:MKS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 367.77 and traded as high as GBX 392.90. Marks and Spencer Group shares last traded at GBX 384.40, with a volume of 4,177,771 shares.

Wall Street Analyst Weigh In

MKS has been the topic of a number of analyst reports. Shore Capital Group reaffirmed a “house stock” rating on shares of Marks and Spencer Group in a research report on Thursday, July 16th. UBS Group restated a “buy” rating and issued a GBX 425 target price on shares of Marks and Spencer Group in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 435 target price on shares of Marks and Spencer Group in a research note on Thursday, August 13th. Berenberg Bank raised their price objective on shares of Marks and Spencer Group from GBX 415 to GBX 480 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. raised Marks and Spencer Group to an “overweight” rating and boosted their target price for the stock from GBX 440 to GBX 450 in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 432.50.

Marks and Spencer Group Stock Up 0.2%

The firm has a market capitalization of £7.96 billion, a P/E ratio of 31.49, a PEG ratio of 0.20 and a beta of 0.99. The company has a debt-to-equity ratio of 111.89, a quick ratio of 0.42 and a current ratio of 0.86. The firm’s 50-day moving average is GBX 388.60 and its 200 day moving average is GBX 367.68.

Insiders Place Their Bets

In other news, insider Stuart Machin sold 560,402 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of GBX 384, for a total transaction of £2,151,943.68. 0.48% of the stock is currently owned by company insiders.

Marks and Spencer Group Company Profile

M&S has a heritage of quality, innovation and value for money and has been voted the UK’s most trusted brand. From these foundations, M&S is reshaping for sustainable profitable growth and value creation.

We operate as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands. We do this through a network of stores and websites globally, and together, across our stores, support centres, warehouses and supply chain, our 65,000 colleagues serve over 30 million customers each year.