Debenhams Plc (LON:DEB)’s share price dropped 11.1% during mid-day trading on Thursday . The company traded as low as GBX 4.75 ($0.06) and last traded at GBX 5.02 ($0.07). Approximately 12,410,781 shares traded hands during trading, an increase of 222% from the average daily volume of 3,850,000 shares. The stock had previously closed at GBX 5.65 ($0.07).
DEB has been the subject of a number of research reports. Liberum Capital upgraded Debenhams to a “hold” rating and set a GBX 10 ($0.13) target price for the company in a report on Thursday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 12 ($0.16) target price on shares of Debenhams in a report on Thursday. Peel Hunt reiterated a “sell” rating on shares of Debenhams in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Debenhams from GBX 26 ($0.34) to GBX 18 ($0.24) and set an “underweight” rating for the company in a report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 16.56 ($0.22).
In related news, insider Sergio Bucher acquired 1,192,819 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was bought at an average price of GBX 8 ($0.10) per share, for a total transaction of £95,425.52 ($124,690.34).
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About Debenhams (LON:DEB)
Debenhams plc, through its subsidiaries, operates and franchises a range of department stores in the United Kingdom, the Republic of Ireland, Denmark, and internationally. It provides women's wear, men's wear, kids wear, and lingerie, as well as beauty, home, furniture, gift and toy, electrical, Christmas, and others products.
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