3i Infrastructure (LON:3IN) Shares Break Above Fifty Day Moving Average – Here’s What Happened

3i Infrastructure plc (LON:3IN)’s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of GBX 390.67 and traded as high as GBX 393.50. 3i Infrastructure shares last traded at GBX 393.50, with a volume of 4,390,664 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on 3IN. Canaccord Genuity Group reaffirmed a “hold” rating on shares of 3i Infrastructure in a research note on Wednesday, September 30th. Jefferies Financial Group reiterated a “buy” rating on shares of 3i Infrastructure in a report on Thursday, October 1st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 450.

3i Infrastructure Price Performance

The company has a debt-to-equity ratio of 15.26, a quick ratio of 0.57 and a current ratio of 0.85. The company has a 50-day simple moving average of GBX 390.96 and a two-hundred day simple moving average of GBX 371.63. The stock has a market cap of £3.62 billion, a price-to-earnings ratio of 12.28 and a beta of 0.50.

About 3i Infrastructure

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, an approved UK Investment Trust, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company’s purpose is to deliver a long-term sustainable return to shareholders from investing in infrastructure.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Manager to 3i Infrastructure plc.