Essentra (LON:ESNT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Essentra plc (LON:ESNT) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 167.55 ($2.19) and traded as low as GBX 150.80 ($1.97). Essentra shares last traded at GBX 151 ($1.97), with a volume of 752,318 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ESNT shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Essentra from GBX 240 ($3.13) to GBX 200 ($2.61) and set a “buy” rating for the company in a research note on Tuesday, September 17th. Berenberg Bank dropped their price target on shares of Essentra from GBX 255 ($3.33) to GBX 200 ($2.61) and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group decreased their price objective on Essentra from GBX 260 ($3.40) to GBX 250 ($3.26) and set a “buy” rating on the stock in a report on Friday, July 12th.

Essentra Price Performance

The company’s 50 day moving average price is GBX 160.64 and its 200 day moving average price is GBX 167.55. The company has a debt-to-equity ratio of 51.89, a quick ratio of 0.50 and a current ratio of 1.97. The company has a market cap of £432.08 million, a price-to-earnings ratio of 7,980.00, a P/E/G ratio of 3.84 and a beta of 1.18.

Essentra Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 19th will be issued 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.

Insiders Place Their Bets

In other Essentra news, insider Scott Fawcett purchased 10,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of GBX 142 ($1.85) per share, for a total transaction of £14,880.18 ($19,430.90). Insiders own 0.99% of the company’s stock.

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.