The stock of John Menzies plc (LON:MNZS) gapped up by GBX 1.25 today and has GBX 560.15 target or 7.00% above today’s GBX 523.50 share price. The 8 months technical chart setup indicates low risk for the GBX 436.11 million company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 560.15 price target is reached, the company will be worth GBX 30.53M 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 1.06% or GBX 5.5 on November 24, hitting GBX 523.5. About 24,735 shares traded hands. John Menzies plc (LON:MNZS) has risen 5.81% since April 27, 2016 and is uptrending. It has outperformed by 0.40% the S&P500.
John Menzies plc (LON:MNZS) Ratings Coverage
Out of 5 analysts covering Menzies John PLC (LON:MNZS), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Menzies John PLC has been the topic of 24 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Nplus1 Brewin on Tuesday, August 18. The stock of John Menzies plc (LON:MNZS) earned “Buy” rating by Numis Securities on Tuesday, August 18. The stock of John Menzies plc (LON:MNZS) earned “Hold” rating by N+1 Singer on Tuesday, November 24. On Tuesday, August 16 the stock rating was downgraded by Numis Securities to “Add”. The stock has “Hold” rating given by Peel Hunt on Monday, August 15. The company was maintained on Tuesday, November 24 by Peel Hunt. Peel Hunt maintained the shares of MNZS in a report on Thursday, April 7 with “Hold” rating. The company was maintained on Friday, September 2 by Peel Hunt. On Wednesday, November 23 the stock rating was maintained by Peel Hunt with “Add”. The rating was maintained by Peel Hunt with “Hold” on Tuesday, March 8.
Another recent and important John Menzies plc (LON:MNZS) news was published by Bloomberg.com which published an article titled: “John Menzies’ Biggest Shareholder Supports Breakup Discussions” on May 01, 2015.
John Menzies plc provides support services in various markets. The company has a market cap of 436.11 million GBP. The Firm operates through two divisions: Distribution and Aviation. It has a 63.99 P/E ratio. The Distribution segment provides newspaper and magazine distribution services along with marketing and logistics services across the United Kingdom and Ireland.
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