Restore (LON:RST) Shares Cross Above 50-Day Moving Average – Here’s Why

Restore plc (LON:RST) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 261.24 and traded as high as GBX 270. Restore shares last traded at GBX 269, with a volume of 804,491 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 435 target price on shares of Restore in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 367.33.

Restore Stock Up 1.1%

The company has a market capitalization of £363.47 million, a PE ratio of -57.87, a P/E/G ratio of 0.41 and a beta of 0.11. The company has a debt-to-equity ratio of 118.39, a quick ratio of 1.28 and a current ratio of 0.93. The company’s 50-day moving average is GBX 261.76 and its 200 day moving average is GBX 257.70.

Restore announced that its Board of Directors has authorized a stock buyback plan on Monday, March 16th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Restore

In related news, insider Dan Baker sold 55,795 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of GBX 261, for a total value of £145,624.95. Company insiders own 16.26% of the company’s stock.

About Restore

We provide secure and sustainable business services for data, information, communications and assets.

Restore plc leads the markets it serves. Supporting public and private sectors with critical services, income is highly predictable, recurring in nature and generates strong cashflows. We provide integrated information and data management, business digitisation, secure recycling of paper and technology assets, and commercial relocation solutions.

The Group has over 75 sites providing national scale with local service.