How Positive is Berenberg on Northgate PLC (LON:NTG) Following Today’s Upgrade? The Target is GBX 400.00


Northgate PLC (LON:NTG) Stock Upgrade

London-listed Northgate PLC (LON:NTG), was hiked by investment advisers at Berenberg today. Berenberg hiked its rating on the 517.42M GBP market capitalized company to a “Hold”, and decided to leave its target price per share of GBX 400.00 on NTG shares.

From a total of 8 analysts covering Northgate PLC (LON:NTG) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is GBX 710 while the lowest target price is GBX 455. The mean of all analyst targets is GBX 600.38 with a 51.79% above today’s (GBX 391.8) stock price. Northgate PLC was the topic of 8 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. Numis Securities maintained shares on December 3 with “Buy” rating. Jefferies upgraded shares to “Buy” rating and GBX 530 target share price in a report from an October 26. Stifel Nicolaus maintained NTG stock in a recent report from December 1 with “Buy” rating. Berenberg downgraded the rating on August 21. Berenberg has a “Sell” rating and a GBX 455 price target on shares. Finally, Peel Hunt maintained the stock with “Buy” rating in a report issued on a December 1.

The stock increased 1.24% or GBX 4.8 on December 17, striking GBX 391.8. Approximately 2.16M shares of stock traded hands or 647.07% up from the average. Northgate plc (LON:NTG) has declined 37.81% since May 21, 2015 and is downtrending. It has underperformed by 35.55% the S&P500.

 How Positive is Berenberg on Northgate PLC (LON:NTG) Following Today’s Upgrade? The Target is GBX 400.00

The overall sentiment of institutions has increased to 1.09 in Q2 2015. Its up 0.12, from 0.97 in 2015Q2. The ratio is positive, as 12 institutions have sold all the shares of Northgate plc that they owned while 21 funds have taken shares off the table. 10 funds have purchased shares for the first time while 26 added to their positions. These institutions now hold 10.06 million shares or 6.42% more than the 9.45 million shares they owned in 2015Q2.

The Fund Fiduciary Trust Co currently is holding shares equating to 1.56% of its total portfolio in Northgate plc representing a total of 1.89 million shares. Another fund,Arete Wealth Advisors Llc, is holding a total of 87,305 shares equating to 1.25% of their holdings. Additionally, Hhg & Company Llc has a 223,429 share stake in Northgate plc which represents 1.24% of their total portfolio. The Fund, Oxbow Advisors Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 1.02% of their total portfolio. Finally Bard Associates Inc, a fund which is based in the state of Illinois reported a total holdings of 88,387 shares.

Northgate plc is a United Kingdom-based investment holding company. The company has a market cap of 517.42 million GBP. The Firm is engaged in the light commercial vehicle hire business in the United Kingdom, Ireland and Spain. It has 8.37 P/E ratio. It operates through two divisions: the UK division, which includes activities in the Republic of Ireland, and Spain division.