Essentra (LON:ESNT) Shares Down 19.6%

Shares of Essentra plc (LON:ESNT) dropped 19.6% on Tuesday . The company traded as low as GBX 125.92 ($1.66) and last traded at GBX 134.40 ($1.78). Approximately 6,287,692 shares traded hands during trading, an increase of 823% from the average daily volume of 681,071 shares. The stock had previously closed at GBX 167.20 ($2.21).

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Essentra from GBX 260 ($3.43) to GBX 250 ($3.30) and set a “buy” rating for the company in a report on Friday, July 12th. Berenberg Bank reissued a “buy” rating and issued a GBX 255 ($3.37) price objective on shares of Essentra in a research note on Thursday, May 23rd.

Essentra Stock Down 19.7 %

The company has a market cap of £386.11 million, a P/E ratio of 7,980.00, a P/E/G ratio of 3.84 and a beta of 1.18. The company has a 50-day simple moving average of GBX 166.63 and a 200 day simple moving average of GBX 171.16. The company has a current ratio of 1.97, a quick ratio of 0.50 and a debt-to-equity ratio of 51.89.

Essentra Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be issued a GBX 1.25 ($0.02) dividend. This represents a dividend yield of 0.76%. The ex-dividend date is Thursday, September 19th.

Essentra Company Profile

Essentra plc manufactures and distributes plastic injection and vinyl dip moulded, and metal components worldwide. The company offers cable ties and conduit, and accessories; grommets, strain relief, and blanking plugs; cable glands and accessories; caps and plugs; card guides and pullers; circuit board hardware products; EMI suppression ferrite cores; fan accessories comprising filters and fan mounting accessories; screws and nuts; rivet and panel fasteners; barbed and push-fit fasteners; binder screws and snap fasteners; washers; spacers; brushes; feet; fibre management; and furniture fittings.