HSBC (LON:HSBA) Hits New 52-Week High – Still a Buy?

HSBC Holdings plc (LON:HSBA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,412.20 and last traded at GBX 1,411, with a volume of 703399938 shares changing hands. The stock had previously closed at GBX 1,386.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, May 5th. UBS Group reiterated a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lifted their target price on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research note on Friday, May 8th. Shore Capital Group upgraded shares of HSBC to a “hold” rating and lifted their target price for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada lifted their target price on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Stock Up 1.8%

The stock has a fifty day moving average of GBX 1,296.54 and a 200-day moving average of GBX 1,229.38. The firm has a market capitalization of £241.96 billion, a P/E ratio of 11.76, a PEG ratio of 5.97 and a beta of 0.57.

Insider Transactions at HSBC

In related news, insider Georges Elhedery acquired 842,628 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of GBX 1,282 per share, for a total transaction of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Insiders sold 242,798 shares of company stock valued at $308,402,488 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

HSBC Company Profile