RS Group (LON:RS1) Hits New 52-Week High – Here’s What Happened

RS Group plc (LON:RS1) shares hit a new 52-week high during trading on Monday . The stock traded as high as GBX 916.25 and last traded at GBX 716.50, with a volume of 196052 shares traded. The stock had previously closed at GBX 701.50.

Analysts Set New Price Targets

RS1 has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price target on RS Group from GBX 770 to GBX 780 and gave the company an “outperform” rating in a report on Thursday, May 21st. Berenberg Bank reissued a “hold” rating and issued a GBX 600 price objective on shares of RS Group in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on RS Group from GBX 635 to GBX 720 and gave the stock an “overweight” rating in a report on Friday, July 17th. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 target price on shares of RS Group in a research note on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised RS Group to a “buy” rating and lifted their price target for the company from GBX 700 to GBX 775 in a report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, RS Group has an average rating of “Moderate Buy” and an average target price of GBX 696.25.

RS Group Stock Performance

The stock has a market cap of £3.30 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.85 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.24 and a debt-to-equity ratio of 35.05. The firm has a fifty day simple moving average of GBX 644.09 and a 200-day simple moving average of GBX 637.90.

RS Group (LON:RS1) last released its earnings results on Wednesday, May 20th. The company reported GBX 38.70 EPS for the quarter. RS Group had a return on equity of 11.55% and a net margin of 5.62%.The company had revenue of GBX 288.11 billion during the quarter.

RS Group declared that its board has initiated a stock repurchase plan on Wednesday, May 20th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About RS Group

RS Group plc is a high-service global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.

We operate in 33 markets, stock over 875,000 industrial and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably.