Burberry Group (LON:BRBY) Stock Price Down 7.1% – Here’s What Happened

Burberry Group plc (LON:BRBY)’s share price traded down 7.1% during trading on Tuesday . The stock traded as low as GBX 1,152.50 ($15.59) and last traded at GBX 1,181.96 ($15.99). 1,956,127 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 6,175,073 shares. The stock had previously closed at GBX 1,272 ($17.21).

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup upped their target price on Burberry Group from GBX 1,250 to GBX 1,600 and gave the company a “buy” rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,000 target price on shares of Burberry Group in a research report on Monday, July 21st. Finally, HSBC reaffirmed a “buy” rating and issued a GBX 1,600 target price on shares of Burberry Group in a research report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Burberry Group has a consensus rating of “Moderate Buy” and an average target price of GBX 1,350.

Burberry Group Stock Up 0.8%

The firm has a market cap of £4.22 billion, a price-to-earnings ratio of -5,626.79, a P/E/G ratio of 1.66 and a beta of 1.06. The company has a debt-to-equity ratio of 136.53, a current ratio of 1.66 and a quick ratio of 1.63. The stock has a 50-day moving average of GBX 1,245.76 and a 200-day moving average of GBX 1,021.93.

Insider Buying and Selling

In related news, insider Joshua Schulman purchased 29,744 shares of Burberry Group stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average price of GBX 1,069 per share, with a total value of £317,963.36. Also, insider Orna NiChionna purchased 1,208 shares of Burberry Group stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average cost of GBX 1,234 per share, for a total transaction of £14,906.72. Insiders have purchased 34,180 shares of company stock valued at $36,837,808 over the last 90 days. 0.63% of the stock is owned by corporate insiders.

Burberry Group Company Profile

Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags.