Dowlais Group (LON:DWL) Stock Price Up 1.4% – Time to Buy?

Shares of Dowlais Group plc (LON:DWL) shot up 1.4% on Thursday . The company traded as high as GBX 66.80 ($0.82) and last traded at GBX 66.60 ($0.82). 2,783,927 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 2,982,377 shares. The stock had previously closed at GBX 65.65 ($0.81).

Analysts Set New Price Targets

DWL has been the subject of a number of analyst reports. Citigroup raised shares of Dowlais Group to a “neutral” rating and set a GBX 58 ($0.71) target price for the company in a research note on Thursday, October 24th. Berenberg Bank reiterated a “hold” rating and set a GBX 62 ($0.76) price objective on shares of Dowlais Group in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Dowlais Group currently has an average rating of “Hold” and a consensus target price of GBX 94 ($1.16).

Dowlais Group Trading Down 1.1 %

The business’s 50-day simple moving average is GBX 59.43 and its 200 day simple moving average is GBX 61.32. The company has a market capitalization of £892.16 million and a P/E ratio of -177.30.

About Dowlais Group

Dowlais Group Plc manufactures and sells automotive parts in the Americas, Europe, and Asia. The company engages in developing, manufacturing, and supplying automotive drive systems for conventional and electric vehicles. It manufactures sideshafts, propshafts, and constant velocity joints for passenger vehicles; and AWD systems and eDrive systems, as well as provides component solutions to systems, including control software.