The stock of Scapa Group plc (LON:SCPA) gapped up by GBX 1 today and has GBX 335.60 target or 9.00% above today’s GBX 307.89 share price. The 7 months technical chart setup indicates low risk for the GBX 468.84M company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 335.60 price target is reached, the company will be worth GBX 42.20M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.20% or GBX 3.64 on November 23, hitting GBX 307.89. About 1.29M shares traded hands or 350.71% up from the average. Scapa Group plc (LON:SCPA) has risen 30.91% since April 26, 2016 and is uptrending. It has outperformed by 25.58% the S&P500.
Scapa Group plc (LON:SCPA) Ratings Coverage
Out of 4 analysts covering Scapa Group (LON:SCPA), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. GBX 340 is the highest target while GBX 210 is the lowest. The GBX 317 average target is 2.96% above today’s (GBX 307.89) stock price. Scapa Group has been the topic of 23 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Add” rating by Numis Securities given on Tuesday, October 13. On Tuesday, November 22 the stock rating was maintained by Numis Securities with “Add”. The firm has “Buy” rating by Berenberg given on Friday, July 1. The firm has “Hold” rating by Cantor Fitzgerald given on Tuesday, October 13. The firm has “Add” rating given on Tuesday, May 24 by Numis Securities. Numis Securities downgraded Scapa Group plc (LON:SCPA) on Tuesday, November 24 to “Hold” rating. Cantor Fitzgerald maintained Scapa Group plc (LON:SCPA) on Thursday, June 2 with “Hold” rating. The stock of Scapa Group plc (LON:SCPA) has “Add” rating given on Friday, November 27 by Numis Securities. On Tuesday, July 19 the stock rating was maintained by Cantor Fitzgerald with “Hold”. Cantor Fitzgerald maintained the shares of SCPA in a report on Thursday, April 14 with “Hold” rating.
Scapa Group Plc is a holding company for a group of companies operating in the manufacture of bonding products and adhesive components for applications in the healthcare and industrial markets. The company has a market cap of 468.84 million GBP. The Firm operates through two divisions: Industrial and Healthcare. It has a 79.87 P/E ratio. The Company’s Industrial segment makes and delivers a portfolio of adhesive bonding solutions and applications.
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