Porvair (LON:PRV) Shares Break Above 50-Day Moving Average – What’s Next?

Shares of Porvair plc (LON:PRV) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of GBX 870.81 and traded as high as GBX 876. Porvair shares last traded at GBX 872, with a volume of 22,795 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRV. Deutsche Bank reissued a “buy” rating and set a GBX 1,050 price target on shares of Porvair in a report on Thursday, October 15th. Berenberg Bank reduced their price objective on Porvair from GBX 1,050 to GBX 1,000 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Porvair presently has an average rating of “Moderate Buy” and an average price target of GBX 1,025.

Porvair Stock Performance

The stock’s 50-day moving average is GBX 870.55 and its 200-day moving average is GBX 817.91. The firm has a market capitalization of £395.54 million, a price-to-earnings ratio of 21.19 and a beta of 0.52. The company has a current ratio of 1.94, a quick ratio of 1.22 and a debt-to-equity ratio of 14.49.

Insiders Place Their Bets

In related news, insider James Mills purchased 3,897 shares of the stock in a transaction dated Thursday, October 15th. The stock was bought at an average cost of GBX 890 per share, for a total transaction of £34,683.30. Also, insider Hooman Caman Javvi purchased 5,946 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was purchased at an average price of GBX 833 per share, with a total value of £49,530.18. In the last ninety days, insiders have acquired 15,410 shares of company stock worth $13,375,978. Insiders own 1.86% of the company’s stock.

Porvair Company Profile

Porvair plc engages in the filtration, laboratory, and environmental technology business. It operates through three segments: Aerospace & Industrial, Laboratory, and Metal Melt Quality. The Aerospace & Industrial segment designs and manufactures a range of specialist filtration equipment for aerospace, energy, and industrial applications. The Laboratory segment is involved in the design and manufacture of instruments and consumables for use in environmental and bioscience laboratories with a focus on water analysis instruments, diagnostics, and sample preparation equipment.