The stock of FirstGroup plc (LON:FGP) gapped down by GBX 0.3 today and has GBX 96.91 target or 6.00% below today’s GBX 103.10 share price. The 8 months technical chart setup indicates high risk for the GBX 1.24B company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 96.91 price target is reached, the company will be worth GBX 74.40 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 3.55% or GBX 3.8 on November 24, hitting GBX 103.1. About 3.97 million shares traded hands or 82.11% up from the average. FirstGroup plc (LON:FGP) has risen 2.59% since April 27, 2016 and is uptrending. It has underperformed by 2.82% the S&P500.
FirstGroup plc (LON:FGP) Ratings Coverage
Out of 17 analysts covering FirstGroup PLC (LON:FGP), 6 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 35% are positive. FirstGroup PLC has been the topic of 81 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Nomura maintained FirstGroup plc (LON:FGP) on Wednesday, February 17 with “Neutral” rating. The firm has “Buy” rating given on Tuesday, November 3 by Liberum Capital. Liberum Capital maintained it with “Buy” rating and GBX 140 target price in Thursday, June 16 report. The rating was maintained by Nomura on Monday, November 9 with “Neutral”. JP Morgan maintained FirstGroup plc (LON:FGP) on Wednesday, May 25 with “Overweight” rating. The rating was maintained by Investec with “Buy” on Tuesday, September 15. Barclays Capital maintained FirstGroup plc (LON:FGP) on Wednesday, February 3 with “Equal Weight” rating. The firm has “Overweight” rating given on Thursday, December 10 by JP Morgan. JP Morgan maintained the shares of FGP in a report on Friday, April 8 with “Overweight” rating. As per Friday, January 29, the company rating was maintained by Barclays Capital.
Another recent and important FirstGroup plc (LON:FGP) news was published by Uk.Finance.Yahoo.com which published an article titled: “Firstgroup plc (FGP.L)” on March 29, 2014.
FirstGroup plc is a transport operator in the United Kingdom and North America. The company has a market cap of 1.24 billion GBP. The Firm operates through five divisions: First Student, First Transit, Greyhound, First Bus and First Rail. It has a 12.03 P/E ratio. The First Student is a well-known provider of student transportation in North America and operates a fleet of over 47,000 school buses, with over six million student journeys per school day.
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