Could Scapa Group plc Go Down After Reaching 52-Week High?

 Could Scapa Group plc Go Down After Reaching 52 Week High?

The stock of Scapa Group plc (LON:SCPA) hit a new 52-week high and has GBX 329.44 target or 7.00% above today’s GBX 307.89 share price. The 7 months bullish chart indicates low risk for the GBX 468.84 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the GBX 329.44 price target is reached, the company will be worth GBX 32.82M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. 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 25.85% since April 25, 2016 and is uptrending. It has outperformed by 20.52% 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. Numis Securities maintained Scapa Group plc (LON:SCPA) rating on Tuesday, September 1. Numis Securities has “Hold” rating and GBX 211 price target. The rating was maintained by Berenberg with “Buy” on Friday, April 15. The stock of Scapa Group plc (LON:SCPA) earned “Hold” rating by Numis Securities on Wednesday, October 12. On Tuesday, November 22 the stock rating was maintained by N+1 Singer with “Buy”. The firm has “Add” rating given on Tuesday, November 22 by Numis Securities. The rating was maintained by Cantor Fitzgerald on Tuesday, October 13 with “Hold”. Numis Securities maintained Scapa Group plc (LON:SCPA) rating on Tuesday, May 24. Numis Securities has “Add” rating and GBX 280 price target. Numis Securities maintained it with “Add” rating and GBX 255 target price in Thursday, April 14 report. The rating was upgraded by Numis Securities to “Add” on Friday, November 27. Cantor Fitzgerald maintained Scapa Group plc (LON:SCPA) on Tuesday, July 19 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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