Spirent Communications (LON:SPT) Stock Rating Reaffirmed by Canaccord Genuity Group

Posted by on May 6th, 2023

Spirent Communications (LON:SPT – Get Rating)‘s stock had its “speculative buy” rating reiterated by analysts at Canaccord Genuity Group in a report released on Thursday, MarketBeat Ratings reports. They currently have a GBX 250 ($3.12) price objective on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 40.06% from the company’s previous close.

A number of other brokerages also recently commented on SPT. The Goldman Sachs Group raised Spirent Communications to a “neutral” rating and set a GBX 170 ($2.12) price objective for the company in a research report on Thursday, April 6th. Berenberg Bank raised Spirent Communications to a “buy” rating and lowered their price objective for the company from GBX 300 ($3.75) to GBX 250 ($3.12) in a research report on Tuesday, March 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Spirent Communications from GBX 250 ($3.12) to GBX 200 ($2.50) and set a “buy” rating for the company in a research report on Wednesday, March 22nd.

Spirent Communications Stock Performance

Spirent Communications stock opened at GBX 178.50 ($2.23) on Thursday. The company has a debt-to-equity ratio of 4.75, a quick ratio of 1.95 and a current ratio of 2.17. The stock has a fifty day moving average of GBX 181.83 and a two-hundred day moving average of GBX 231.01. The company has a market capitalization of £1.08 billion, a price-to-earnings ratio of 1,373.08, a PEG ratio of 5.73 and a beta of 0.38. Spirent Communications has a fifty-two week low of GBX 160.20 ($2.00) and a fifty-two week high of GBX 294 ($3.67).

Insider Activity at Spirent Communications

In other news, insider Bill Thomas bought 27,431 shares of Spirent Communications stock in a transaction that occurred on Thursday, March 9th. The shares were purchased at an average price of GBX 182 ($2.27) per share, for a total transaction of £49,924.42 ($62,374.34). In related news, insider Bill Thomas acquired 27,431 shares of Spirent Communications stock in a transaction on Thursday, March 9th. The shares were bought at an average price of GBX 182 ($2.27) per share, for a total transaction of £49,924.42 ($62,374.34). Also, insider Gary Bullard acquired 15,000 shares of Spirent Communications stock in a transaction on Tuesday, March 7th. The shares were bought at an average price of GBX 184 ($2.30) per share, for a total transaction of £27,600 ($34,482.76). Over the last 90 days, insiders have bought 42,631 shares of company stock worth $7,789,972. 1.37% of the stock is owned by insiders.

About Spirent Communications

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Spirent Communications plc provides automated test and assurance solutions for networks, cybersecurity, and positioning in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company operates in Lifecycle Service Assurance and Networks & Security segments. The Lifecycle Service Assurance segment provides testing solutions for 5G mobile core networks, and cellular and Wi-Fi devices in the lab, as well as diagnoses, troubleshoots, and resolves issues with production networks and services.

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