The GKN plc (GKNLY) Downgraded by Zacks Investment Research

The GKN plc (GKNLY) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of GKN plc (NASDAQ:GKNLY) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “GKN plc operates as an engineering business serving the automotive, industrial, off-highway, and aerospace markets. It sells its products primarily to vehicle and aircraft manufacturers as well as, in Aerospace, to other tier one suppliers. It operates in four different business areas. Automotive segment supplies driveshaft, geared components, torque management devices, structural and engine components and substrates for catalytic converters. Powder Metallurgy segment produces powdered metal and sintered components for automotive and other industrial customers. OffHighway segment mainly designs and manufactures steel wheels and driveline products for the agricultural, construction and mining, and industrial machinery markets. Aerospace segment’ activities are concentrated on the production of airframe and engine structures, components and assemblies for both military and civil aerospace markets. GKN plc is headquartered in Redditch, the United Kingdom. “

A number of other analysts have also issued reports on GKNLY. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of GKN plc in a report on Monday, June 13th. Goldman Sachs Group Inc. lowered GKN plc from a buy rating to a neutral rating in a report on Monday, June 27th. Bank of America Corp. lowered GKN plc from a buy rating to a neutral rating in a report on Tuesday, July 5th. Citigroup Inc. lowered GKN plc from a buy rating to a neutral rating in a report on Wednesday, July 27th. Finally, Beaufort Securities reaffirmed a buy rating on shares of GKN plc in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. GKN plc has an average rating of Hold and a consensus price target of $4.75.

GKN plc (NASDAQ:GKNLY) opened at 3.98 on Tuesday. The stock has a 50 day moving average price of $4.13 and a 200 day moving average price of $4.04. GKN plc has a 1-year low of $3.36 and a 1-year high of $4.75. The company has a market cap of $6.83 billion and a PE ratio of 27.26.

About GKN plc

GKN plc is a global engineering company. The Company is engaged in the design, manufacture and service of systems and components for original equipment manufacturers. The Company operates in four segments: GKN Aerospace, GKN Driveline, GKN Powder Metallurgy and GKN Land Systems. Its GKN Aerospace segment is a supplier of aerostructures, engine products and systems, and electrical wiring systems to the global aerospace industry.

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