Essentra (LON:ESNT) Stock Price Down 19.6% Following Analyst Downgrade

Essentra plc (LON:ESNT)’s stock price was down 19.6% during trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 240 to GBX 200. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Essentra traded as low as GBX 125.92 ($1.66) and last traded at GBX 134.40 ($1.78). Approximately 6,287,692 shares were traded during mid-day trading, an increase of 823% from the average daily volume of 681,071 shares. The stock had previously closed at GBX 167.20 ($2.21).

Several other research firms also recently issued reports on ESNT. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 255 ($3.37) price objective on shares of Essentra in a research note on Thursday, May 23rd. Jefferies Financial Group dropped their price target on shares of Essentra from GBX 260 ($3.43) to GBX 250 ($3.30) and set a “buy” rating for the company in a research note on Friday, July 12th.

Essentra Price Performance

The firm has a market capitalization of £412.00 million, a P/E ratio of 7,980.00, a PEG ratio of 3.84 and a beta of 1.18. The company has a fifty day moving average of GBX 166.28 and a 200 day moving average of GBX 170.95. The company has a debt-to-equity ratio of 51.89, a current ratio of 1.97 and a quick ratio of 0.50.

Essentra Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 19th will be paid a dividend of GBX 1.25 ($0.02) per share. This represents a yield of 0.76%. The ex-dividend date is Thursday, September 19th.

About Essentra

Essentra plc manufactures and distributes plastic injection and vinyl dip moulded, and metal components worldwide. The company offers cable ties and conduit, and accessories; grommets, strain relief, and blanking plugs; cable glands and accessories; caps and plugs; card guides and pullers; circuit board hardware products; EMI suppression ferrite cores; fan accessories comprising filters and fan mounting accessories; screws and nuts; rivet and panel fasteners; barbed and push-fit fasteners; binder screws and snap fasteners; washers; spacers; brushes; feet; fibre management; and furniture fittings.