Baltic Classifieds Group (LON:BCG) Stock Price Down 14.6% After Analyst Downgrade

Baltic Classifieds Group PLC (LON:BCG) was down 14.6% during trading on Wednesday after Berenberg Bank lowered their price target on the stock from GBX 395 to GBX 360. Berenberg Bank currently has a buy rating on the stock. Baltic Classifieds Group traded as low as GBX 270 ($3.60) and last traded at GBX 270 ($3.60). Approximately 24,725,477 shares changed hands during trading, an increase of 1,214% from the average daily volume of 1,881,507 shares. The stock had previously closed at GBX 316 ($4.22).

Several other research firms also recently commented on BCG. Deutsche Bank Aktiengesellschaft raised shares of Baltic Classifieds Group to a “buy” rating and upped their price objective for the company from GBX 366 to GBX 373 in a report on Thursday. Peel Hunt reissued a “hold” rating and issued a GBX 350 price target on shares of Baltic Classifieds Group in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 361.

Baltic Classifieds Group Price Performance

The business’s 50-day moving average price is GBX 338.40 and its 200 day moving average price is GBX 339.64. The company has a quick ratio of 2.36, a current ratio of 2.05 and a debt-to-equity ratio of 13.70. The company has a market capitalization of £1.42 billion, a P/E ratio of 3,177.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.43.

About Baltic Classifieds Group

Baltic Classifieds Group (BCG) is the leading online classifieds group in the Baltics, which owns and operates twelve leading vertical and generalist online classifieds portals in Estonia, Latvia and Lithuania. BCG’s online classifieds portfolio comprises four business lines – automotive, real estate, jobs & services and generalist.