Could Berendsen PLC See a Reversal After Breaking Its 52-Week Low?

 Could Berendsen PLC See a Reversal After Breaking Its 52 Week Low?

The stock of Berendsen PLC (LON:BRSN) hit a new 52-week low and has GBX 942.91 target or 7.00% below today’s GBX 1013.88 share price. The 6 months bearish chart indicates high risk for the GBX 1.75 billion company. The 1-year low was reported on Oct, 28 by If the GBX 942.91 price target is reached, the company will be worth GBX 122.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.56% or GBX 16.12 on October 28, hitting GBX 1013.88. About 1.15 million shares traded hands or 203.88% up from the average. Berendsen PLC (LON:BRSN) has declined 18.12% since March 31, 2016 and is downtrending. It has underperformed by 22.83% the S&P500.

Berendsen PLC (LON:BRSN) Ratings Coverage

Out of 10 analysts covering Berendsen Plc (LON:BRSN), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. GBX 1450 is the highest target while GBX 911 is the lowest. The GBX 1232.50 average target is 21.56% above today’s (GBX 1013.88) stock price. Berendsen Plc has been the topic of 40 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Friday, November 20 by JP Morgan. The rating was maintained by Morgan Stanley with “Equalwt/In-Line” on Thursday, January 14. The rating was maintained by JP Morgan on Monday, August 3 with “Overweight”. The firm has “Not Rated” rating by BNP Paribas given on Friday, January 29. On Thursday, November 19 the stock rating was maintained by Morgan Stanley with “Equalwt/In-Line”. The company was maintained on Wednesday, August 5 by RBC Capital Markets. The stock has “Buy” rating given by Investec on Wednesday, September 23. The stock of Berendsen PLC (LON:BRSN) earned “Outperform” rating by RBC Capital Markets on Friday, January 15. The firm earned “Sector Perform” rating on Thursday, October 13 by RBC Capital Markets. As per Friday, September 16, the company rating was maintained by JP Morgan.

Berendsen plc is a United Kingdom-based company, which is engaged in textile service business. The company has a market cap of 1.75 billion GBP. The Firm develops and provides textile, hygiene and safety solutions. It has a 18.98 P/E ratio. The Firm operates through divisions: Workwear, Facility, UK Flat Linen, Flat Linen outside the UK, and Clinical Solutions and Decontamination.

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