Marks and Spencer Group (LON:MKS) Sets New 52-Week High – Still a Buy?

Shares of Marks and Spencer Group plc (LON:MKS) reached a new 52-week high during trading on Wednesday. The company traded as high as GBX 431.90 and last traded at GBX 428.51, with a volume of 69,210,227 shares. The stock had previously closed at GBX 414.20.

Marks and Spencer Group News Summary

Here are the key news stories impacting Marks and Spencer Group this week:

• Positive Sentiment: Food sales grew 11.7% in the half year and reported profit more than doubled, providing the clearest fundamental support for the shares. Marks & Spencer Reports 11.7% Food Sales Growth as Half-Year Profit More Than Doubles
• Positive Sentiment: Jefferies reaffirmed its “buy” rating and GBX 500 price target, saying the retailer’s rebound is taking shape. Marks & Spencer: Rebound Takes Shape, Jefferies Says Buy
• Neutral Sentiment: Broker views are divided, with food strength offset by concerns about clothing performance. Marks & Spencer brokers split as food strength offsets clothing concerns
• Neutral Sentiment: Shore Capital maintained its “house stock” rating, offering no clear change in its stance. Shore Capital recommendations
• Negative Sentiment: Clothing concerns remain a risk, tempering the positive read-through from food sales and earnings growth. Marks & Spencer brokers split as food strength offsets clothing concerns

Analyst Ratings Changes

A number of research analysts have issued reports on MKS shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 500 target price on shares of Marks and Spencer Group in a report on Thursday. Citigroup boosted their price target on Marks and Spencer Group from GBX 390 to GBX 470 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Shore Capital Group reissued a “house stock” rating on shares of Marks and Spencer Group in a research note on Wednesday. Berenberg Bank restated a “buy” rating and issued a GBX 480 price target on shares of Marks and Spencer Group in a report on Thursday, September 17th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Marks and Spencer Group currently has a consensus rating of “Buy” and a consensus target price of GBX 465.83.

Marks and Spencer Group Stock Down 3.2%

The firm’s fifty day simple moving average is GBX 394.48 and its 200-day simple moving average is GBX 374.44. The company has a market cap of £8.90 billion, a PE ratio of 34.96, a P/E/G ratio of 0.20 and a beta of 1.00. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 11.77.

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.