Moonpig Group (LON:MOON) Hits New 12-Month High – Here’s Why

Shares of Moonpig Group PLC (LON:MOON) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 286 and last traded at GBX 277.54, with a volume of 446763 shares trading hands. The stock had previously closed at GBX 275.60.

Wall Street Analyst Weigh In

A number of research firms recently commented on MOON. Canaccord Genuity Group lowered their price target on Moonpig Group from GBX 310 to GBX 300 and set a “buy” rating for the company in a research report on Friday, June 26th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 315 price objective on shares of Moonpig Group in a research note on Thursday, June 25th. Berenberg Bank reiterated a “buy” rating and set a GBX 300 target price on shares of Moonpig Group in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 235 price target on shares of Moonpig Group in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Moonpig Group currently has an average rating of “Moderate Buy” and an average target price of GBX 299.29.

Moonpig Group Stock Performance

The company has a debt-to-equity ratio of -216.13, a quick ratio of 0.46 and a current ratio of 0.21. The company’s 50-day moving average price is GBX 242.16 and its two-hundred day moving average price is GBX 222.85. The stock has a market cap of £825.34 million, a PE ratio of 17.79 and a beta of 0.95.

Moonpig Group declared that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.