Lamprell’s (LAM) Buy Rating Reiterated at Numis Securities

Lamprell (LON:LAM)‘s stock had its “buy” rating reiterated by equities research analysts at Numis Securities in a note issued to investors on Friday, March 23rd.

Other equities analysts have also issued research reports about the company. Investec restated a “hold” rating and issued a GBX 72 ($1.03) price target (down previously from GBX 81 ($1.16)) on shares of Lamprell in a research note on Thursday, March 22nd. JPMorgan Chase cut their price target on Lamprell from GBX 82 ($1.17) to GBX 78 ($1.12) and set a “neutral” rating for the company in a research note on Friday, February 2nd.

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LAM traded down GBX 0.40 ($0.01) on Friday, reaching GBX 84.10 ($1.20). 34,735 shares of the stock were exchanged, compared to its average volume of 104,745. Lamprell has a fifty-two week low of GBX 56.50 ($0.81) and a fifty-two week high of GBX 125 ($1.79).

In other Lamprell news, insider Mel Fitzgerald purchased 11,770 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The stock was purchased at an average price of GBX 74 ($1.06) per share, for a total transaction of £8,709.80 ($12,471.08). Also, insider Christopher McDonald purchased 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The stock was acquired at an average price of GBX 79 ($1.13) per share, with a total value of £158,000 ($226,231.39).

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About Lamprell

Lamprell plc, through its subsidiaries, provides fabrication, engineering, and contracting services to the offshore and onshore oil and gas, and renewable energy industries in the United Arab Emirates and the Kingdom of Saudi Arabia. The company engages in the design and construction of new build jackup drilling rigs and multi-purpose liftboats; offshore construction activities, such as complex living quarters, wellhead decks, topsides, jackets, parts for FPSOs/FPUs, and other offshore fixed facilities; and fabricates packaged, pre-assembled, and modularized units, as well as accommodation modules and complex process modules for onshore LNG and downstream modular construction projects It also provides oil and gas contracting services, including land rig, rig refurbishment and maintenance, and site work services; engineering and construction services; and manpower supply and ancillary services.

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