EON (ETR:LEO) Receives a Higher Rating From Independent Research GmbH. Will This be a Boost to the Share Price?


EON (ETR:LEO) Stock Upgrade

In recent note revealed to investors on Saturday morning, Independent Research GmbH has raised shares of EON (ETR:LEO) stock to a solid Buy and has set a 12-month Estimated Target Price to EUR 10.90. This target is 29.61% from LEO’s current share price.

From a total of 22 analysts covering LEONI (ETR:LEO) stock, 8 rate it a ”Buy”, 6 a “Sell”, and 8 a ”Hold”. This means that 36% of the ratings are positive. The highest target price is €76 while the lowest target price is €7. The mean of all analyst targets is €22.41 with a -35.19% below today’s (€34.58) stock price. LEONI was the topic of 74 analyst reports since July 16, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on December 16 with “Neutral” rating. HSBC downgraded shares to “Reduce” rating and €8 target share price in a report from a November 28. Kepler Cheuvreux downgraded LEO stock in a recent report from December 9 to “Reduce” rating. Warburg Research maintained the rating on November 27. Warburg Research has a “Hold” rating and a €40 price target on shares. Finally, Baader Wertpapierhandelsbank downgraded the stock to “Sell” rating in a report issued on a December 1.

The stock decreased 2.51% or EUR 0.89 on December 18, striking EUR 34.58. Approximately 771,541 shares of stock traded hands or 72.28% up from the average. LEONI AG (ETR:LEO) has risen 3.31% since May 18, 2015 and is uptrending. It has outperformed by 7.12% the S&P500.

 EON (ETR:LEO) Receives a Higher Rating From Independent Research GmbH. Will This be a Boost to the Share Price?

The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.32, from 1.32 in 2015Q2. The ratio turned negative, as 6 institutions have sold all the shares of LEONI AG that they owned while 17 funds have taken shares off the table. 10 funds have purchased shares for the first time while 13 added to their positions. These institutions now hold 2.96 million shares or 8.05% less than the 3.22 million shares they owned in 2015Q2.

The Fund Liberty Street Advisors Inc. currently is holding shares equating to 3.53% of its total portfolio in LEONI AG representing a total of 232,264 shares. Another fund,Macroview Investment Management Llc, is holding a total of 192,066 shares equating to 2.87% of their holdings. Additionally, Hanlon Investment Management Inc. has a 13,900 share stake in LEONI AG which represents 0.22% of their total portfolio. The Fund, Investors Asset Management Of Georgia Inc Ga Adv, based out of Georgia, has also built up a stake in the stock, which represents a total of 0.21% of their total portfolio. Finally Marquette Asset Management Inc., a fund which is based in the state of Minnesota reported a total holdings of 56,135 shares.

Leoni AG is a Germany-based holding firm that provides wires, optical fibers, cables and cable systems, and related services for application in the automotive sector and other industries. The company has a market cap of 1.15 billion EUR. The Firm operates through two divisions: Wire & Cable Solutions and Wiring Systems. It has 10.8 P/E ratio. The Wire & Cable Solutions division develops, produces and sells wires, strands and tapes for cable production and electrical, as well as electromechanical components, of Lyonese wares for textiles, as well as cables, conductors and cable systems for the automotive and electrical appliance industries, data and communications technology, multimedia segment, healthcare sector, automation and process technology, among others.