Could Severfield PLC Go Down After Reaching 52-Week High?

 Could Severfield PLC Go Down After Reaching 52 Week High?

The stock of Severfield PLC (LON:SFR) hit a new 52-week high and has GBX 80.06 target or 5.00% above today’s GBX 76.25 share price. The 8 months bullish chart indicates low risk for the GBX 226.85M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the GBX 80.06 price target is reached, the company will be worth GBX 11.34M 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 0.83% or GBX 0.62 on November 25, hitting GBX 76.25. About 254,940 shares traded hands or 103.82% up from the average. Severfield PLC (LON:SFR) has risen 45.93% since April 29, 2016 and is uptrending. It has outperformed by 40.52% the S&P500.

Severfield PLC (LON:SFR) Ratings Coverage

Out of 2 analysts covering Severfield (LON:SFR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Severfield has been the topic of 5 analyst reports since October 6, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained Severfield PLC (LON:SFR) rating on Tuesday, October 6. Canaccord Genuity has “Buy” rating and GBX 80 price target. The stock of Severfield PLC (LON:SFR) has “Buy” rating given on Tuesday, January 26 by Jefferies. Canaccord Genuity maintained the shares of SFR in a report on Tuesday, November 24 with “Buy” rating. The stock of Severfield PLC (LON:SFR) earned “Buy” rating by Canaccord Genuity on Tuesday, October 20. The rating was maintained by Jefferies with “Buy” on Tuesday, May 24.

More news for Severfield PLC (LON:SFR) were recently published by: Fool.Co.Uk, which released: “Should You Consider Buying Tesco PLC, Walker Greenback plc And Severfield PLC?” on June 17, 2015. Fool.Co.Uk‘s article titled: “Are Jimmy Choo plc, Servelec Group plc, Aveva Group plc and Severfield plc …” and published on June 15, 2016 is yet another important article.

Severfield plc is a structural steelwork firm in the United Kingdom, which is engaged in construction contract business. The company has a market cap of 226.85 million GBP. The Firm serves the construction and infrastructure markets. It has a 18.84 P/E ratio. The Company’s construction sectors consist of commercial offices, industrial and distribution, stadia and leisure, retail, and data centers and other.

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