The stock of Paragon Group of Companies PLC (LON:PAG) gapped up by GBX 3.9 today and has GBX 379.77 target or 9.00% above today’s GBX 348.41 share price. The 7 months technical chart setup indicates low risk for the GBX 985.06M company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 379.77 price target is reached, the company will be worth GBX 88.66 million 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 decreased 5.96% or GBX 22.09 on November 24, hitting GBX 348.41. About 1.26 million shares traded hands or 88.14% up from the average. Paragon Group of Companies PLC (LON:PAG) has risen 13.27% since April 28, 2016 and is uptrending. It has outperformed by 7.86% the S&P500.
Paragon Group of Companies PLC (LON:PAG) Ratings Coverage
Out of 11 analysts covering Paragon Group of Companies The PLC (LON:PAG), 7 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 64% are positive. Paragon Group of Companies The PLC has been the topic of 75 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Monday, August 1 the stock rating was maintained by JP Morgan with “Underweight”. The rating was maintained by Liberum Capital on Tuesday, February 16 with “Buy”. As per Friday, November 20, the company rating was maintained by Shore Capital. As per Tuesday, December 15, the company rating was downgraded by Barclays Capital. The stock has “Neutral” rating given by JP Morgan on Thursday, February 4. RBC Capital Markets maintained the shares of PAG in a report on Friday, September 23 with “Outperform” rating. The firm has “Overweight” rating by Barclays Capital given on Wednesday, November 11. Barclays Capital maintained Paragon Group of Companies PLC (LON:PAG) rating on Monday, October 5. Barclays Capital has “Overweight” rating and GBX 500 price target. The rating was downgraded by JP Morgan on Wednesday, June 29 to “Underweight”. The firm earned “Buy” rating on Wednesday, January 27 by Shore Capital.
The Paragon Group of Companies PLC is engaged in specialist financial services business. The company has a market cap of 985.06 million GBP. The Firm operates as an independent buy-to-let lender, and as a debt purchaser through its Idem Capital division, where it purchases, co-manages and services secured and unsecured consumer loan portfolios. It has a 9.25 P/E ratio. The Company’s operating divisions include Paragon Mortgages, Idem Capital and Paragon Bank.
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