Market's view on RS Group

Published on April 2024

  • RS Group has announced three new suppliers for mechanical power transmission solutions.
  • The current dividend yield for RS Group remains unchanged at 3.1%.
  • Stock watchers predict potential support levels for RS shares at 660p, with a further possible drop to 470p if support fails.
  • RS Group offers a broad range of electrical and electronic products aimed at addressing safety and compliance challenges in the food and beverage manufacturing industry.
  • RS Group has implemented GroupBy’s eCommerce search and product discovery platform, powered by Google Cloud Vertex AI Search for Retail.
  • A recent sustainability-themed event at RS Group’s Corby headquarters gathered health and safety professionals and PPE buyers to discuss sustainable personal protective equipment.
  • RS Group is enhancing its involvement in the commercial electric vehicle charging infrastructure.
  • Jefferies analyst views RS Group as being in a price/earnings trough, despite execution issues, with the company having considerable spare capacity in a consolidating industry.
  • RBC has reduced its price target for RS Group from 950 to 925 pence but maintains an ‘outperform’ rating.
  • RS Group provides a wide array of electric automation products from Festo for various industrial applications.
  • RS Group’s share price has seen volatility, with significant drops attributed to broader market trends and specific company challenges.
  • Jefferies lists RS Group among its top European stock picks for 2024, highlighting potential recovery driven by a new management team and a £30 million cost savings program.
  • Berenberg has lowered RS Group’s price target from 940 to 840 pence, switching to a ‘hold’ rating.
  • Liberum describes RS Group’s fundamentals as ‘sound’, maintaining a ‘buy’ recommendation despite lowering the target price and reducing profit forecasts due to tough market conditions.
  • Barclays has reduced RS Group’s price target from 1,000 to 875 pence but continues to rate it as ‘overweight’, indicating positive performance expectations.
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