Berenberg Bank Issues Positive Forecast for Saga (LON:SAGA) Stock Price

Saga (LON:SAGA) had its price objective lifted by Berenberg Bank from GBX 1,025 to GBX 1,130 in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 795 price target on shares of Saga in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 962.50.

Saga Stock Up 22.8%

SAGA opened at GBX 787 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.35 and a debt-to-equity ratio of 934.58. The firm has a market cap of £1.14 billion, a P/E ratio of 327.92, a PEG ratio of 1.22 and a beta of 2.02. Saga has a 52 week low of GBX 237 and a 52 week high of GBX 797. The business’s fifty day simple moving average is GBX 655.47 and its 200 day simple moving average is GBX 598.83.

Saga (LON:SAGA) last posted its quarterly earnings data on Wednesday, September 30th. The company reported GBX 20.50 EPS for the quarter. Saga had a negative return on equity of 15.72% and a negative net margin of 1.53%.The firm had revenue of £367.50 million during the quarter. As a group, equities research analysts anticipate that Saga will post 34.7826087 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark Watkins purchased 276 shares of the business’s stock in a transaction on Wednesday, July 15th. The shares were bought at an average price of GBX 652 per share, with a total value of £1,799.52. Also, insider Mike Hazell purchased 276 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was bought at an average price of GBX 652 per share, for a total transaction of £1,799.52. 30.38% of the stock is currently owned by insiders.

Saga News Roundup

Here are the key news stories impacting Saga this week:

• Positive Sentiment: Turnaround delivering results: Saga said its restructuring and focus on older customers are beginning to pay off, with the company reportedly “significantly ahead” of its growth plans. Improving operating performance supports the investment case. Saga’s Turnaround Starts Paying for Itself
• Positive Sentiment: Profit outlook strengthened: Saga forecast a substantial increase in annual profit, citing strong demand for cruises and insurance. The outlook suggests its core businesses are benefiting from pricing, customer demand and the turnaround strategy. UK’s Saga forecasts annual profit jump
• Positive Sentiment: Analyst upgrade: Berenberg raised its price target from GBX 1,025 to GBX 1,130 and maintained a “buy” rating. The higher valuation target provided an additional catalyst and helped the stock reach a new 52-week high. Saga stock price target raised at Berenberg Bank
• Neutral Sentiment: Quarterly results mixed: Saga reported quarterly earnings of GBX 20.50 per share, but still posted a negative 1.53% net margin and negative 15.72% return on equity. These figures show that profitability remains fragile despite the improving outlook. Saga quarterly earnings report

About Saga

Saga exists to deliver exceptional experiences for our customers every day, whilst being a driver of positive change in our markets and communities.