On the Beach Group (LON:OTB) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

On the Beach Group plc (LON:OTB)’s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 176.50 and traded as high as GBX 181.40. On the Beach Group shares last traded at GBX 176.80, with a volume of 1,789,019 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OTB shares. Canaccord Genuity Group dropped their target price on shares of On the Beach Group from GBX 240 to GBX 220 and set a “buy” rating on the stock in a report on Friday, September 25th. Shore Capital Group restated a “buy” rating and issued a GBX 200 price target on shares of On the Beach Group in a report on Thursday, September 24th. Finally, Berenberg Bank reduced their price target on shares of On the Beach Group from GBX 280 to GBX 240 and set a “buy” rating for the company in a report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat, On the Beach Group presently has an average rating of “Buy” and a consensus target price of GBX 273.43.

On the Beach Group Trading Down 1.7%

The firm has a market capitalization of £238.94 million, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 23.85. The company’s 50-day simple moving average is GBX 173.50 and its 200 day simple moving average is GBX 176.06.

Insiders Place Their Bets

In other news, insider Simon Cooper purchased 500,000 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were acquired at an average cost of GBX 174 per share, with a total value of £870,000. 9.26% of the stock is currently owned by company insiders.

On the Beach Group Company Profile

On the Beach is one of the UK’s largest online package holiday specialists with significant opportunities for growth. Founded in 2004 and listed on the London Stock Exchange in 2015, today over 1.7 million customers find, book and enjoy their perfect package holiday with us every single year. Our innovative technology, low-cost base and strong customer-value proposition provides a structural challenge to legacy tour operators and online travel agents, as we continue disrupting the market. Our model is customer-centric, asset light, profitable and cash generative.