John Wood Group PLC (LON:WG) was downgraded by research analysts at Canaccord Genuity to a “sell” rating in a report issued on Tuesday, Marketbeat reports. They presently have a GBX 575 ($8.23) price target on the stock, up from their previous price target of GBX 550 ($7.87). Canaccord Genuity’s price objective would suggest a potential downside of 10.02% from the company’s previous close.
In related news, insider Brown,Jann M bought 1,134 shares of the business’s stock in a transaction that occurred on Wednesday, December 23rd. The shares were acquired at an average cost of GBX 611 ($8.74) per share, with a total value of £6,928.74 ($9,913.78).
A number of other equities analysts have also recently issued reports on WG. Numis Securities Ltd reiterated a “buy” rating and set a GBX 680 ($9.73) price objective on shares of John Wood Group PLC in a research report on Friday, December 4th. Beaufort Securities reiterated a “buy” rating on shares of John Wood Group PLC in a research report on Thursday, December 17th. HSBC upgraded shares of John Wood Group PLC to a “buy” rating and upped their price objective for the stock from GBX 600 ($8.58) to GBX 675 ($9.66) in a research report on Tuesday, January 26th. Haitong Securities assumed coverage on shares of John Wood Group PLC in a research report on Thursday, February 18th. They set a “buy” rating and a GBX 662 ($9.47) price objective for the company. Finally, Liberum Capital upped their price objective on shares of John Wood Group PLC from GBX 542 ($7.76) to GBX 560 ($8.01) and gave the stock a “hold” rating in a research report on Thursday, December 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. John Wood Group PLC presently has an average rating of “Hold” and a consensus target price of GBX 626.91 ($8.97).
John Wood Group PLC (LON:WG) traded down 1.92% during midday trading on Tuesday, reaching GBX 639.00. 2,512,348 shares of the company’s stock traded hands. John Wood Group PLC has a 1-year low of GBX 522.85 and a 1-year high of GBX 750.50. The stock’s 50 day moving average price is GBX 616.49 and its 200 day moving average price is GBX 602.09. The firm’s market cap is GBX 2.36 billion.
John Wood Group PLC is a United Kingdom-based energy services company. The Company provides a range of engineering, production support and turbine services to the oil and gas, and power sectors. The Company operates through two segments: Wood Group Engineering and Wood Group PSN. The Wood Group Engineering segment provides a range of engineering services, such as conceptual studies, engineering, project and construction management, and control system upgrades, to the upstream, subsea and pipeline, downstream, chemical process and industrial, and clean energy sectors.
Source: American Banking and Market News