Marks and Spencer Group (LON:MKS) Stock 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 369.90 and traded as high as GBX 413.90. Marks and Spencer Group shares last traded at GBX 407.30, with a volume of 7,991,487 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 435 price objective on shares of Marks and Spencer Group in a report on Thursday, August 13th. Citigroup boosted their target price on shares of Marks and Spencer Group from GBX 390 to GBX 470 and gave the company a “buy” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. raised Marks and Spencer Group to an “overweight” rating and raised their price objective for the company from GBX 440 to GBX 450 in a research note on Tuesday, July 21st. Berenberg Bank restated a “buy” rating and issued a GBX 480 target price on shares of Marks and Spencer Group in a research report on Thursday, September 17th. Finally, Shore Capital Group reissued a “house stock” rating on shares of Marks and Spencer Group in a report on Thursday, July 16th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 432.50.

Marks and Spencer Group Stock Down 0.4%

The company has a quick ratio of 0.42, a current ratio of 0.86 and a debt-to-equity ratio of 111.89. The stock’s 50-day simple moving average is GBX 385.80 and its 200 day simple moving average is GBX 370.51. The firm has a market cap of £8.50 billion, a P/E ratio of 33.38, a PEG ratio of 0.20 and a beta of 1.00.

About Marks and Spencer Group

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.