Lamprell (LON:LAM) Earns Hold Rating from Investec

Investec reaffirmed their hold rating on shares of Lamprell (LON:LAM) in a research report sent to investors on Thursday, March 22nd. They currently have a GBX 72 ($1.03) target price on the stock, down from their prior target price of GBX 81 ($1.16).

A number of other brokerages have also recently commented on LAM. Numis Securities lowered their price target on Lamprell from GBX 119 ($1.70) to GBX 99 ($1.42) and set a buy rating for the company in a research report on Friday, January 26th. JPMorgan Chase lowered 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 report on Friday, February 2nd.

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LAM traded down GBX 0.40 ($0.01) on Thursday, 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 related news, insider Christopher McDonald acquired 200,000 shares of the firm’s stock in a transaction dated 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). Also, insider Mel Fitzgerald acquired 11,770 shares of the firm’s stock in a transaction dated Thursday, March 29th. The stock was bought at an average cost of GBX 74 ($1.06) per share, with a total value of £8,709.80 ($12,471.08).

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Lamprell Company Profile

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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