Crest Nicholson (LON:CRST) Trading Down 10% After Analyst Downgrade

Crest Nicholson Holdings plc (LON:CRST) shares traded down 10% during mid-day trading on Tuesday after Berenberg Bank lowered their price target on the stock from GBX 195 to GBX 180. Berenberg Bank currently has a hold rating on the stock. Crest Nicholson traded as low as GBX 142.20 and last traded at GBX 147.05. 11,581,126 shares traded hands during mid-day trading, an increase of 701% from the average session volume of 1,446,564 shares. The stock had previously closed at GBX 163.40.

A number of other equities research analysts have also issued reports on CRST. Peel Hunt restated an “add” rating and issued a GBX 190 target price on shares of Crest Nicholson in a research note on Tuesday. Jefferies Financial Group lowered their price objective on Crest Nicholson from GBX 254 to GBX 251 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 202.75.

Crest Nicholson Trading Down 2.9%

The firm has a market cap of £328.13 million, a P/E ratio of -4.46, a P/E/G ratio of 0.51 and a beta of 2.00. The business’s 50-day moving average is GBX 161.97 and its two-hundred day moving average is GBX 173.58. The company has a current ratio of 3.27, a quick ratio of 0.72 and a debt-to-equity ratio of 12.94.

Crest Nicholson Company Profile

Crest Nicholson Holdings plc engages in building residential homes in the United Kingdom. It develops and sells apartments, houses, and commercial properties. The company was founded in 1963 and is headquartered in Addlestone, the United Kingdom.