Dunelm Group (LON:DNLM) Shares Down 17.1% – Here’s Why

Shares of Dunelm Group plc (LON:DNLM) dropped 17.1% during mid-day trading on Thursday . The stock traded as low as GBX 956 and last traded at GBX 969.50. Approximately 2,809,483 shares changed hands during mid-day trading, an increase of 176% from the average daily volume of 1,018,035 shares. The stock had previously closed at GBX 1,170.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Dunelm Group from GBX 1,140 to GBX 1,240 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada raised shares of Dunelm Group to an “outperform” rating and increased their target price for the company from GBX 1,200 to GBX 1,300 in a research report on Monday, November 3rd. Jefferies Financial Group upped their price target on shares of Dunelm Group from GBX 1,755 to GBX 1,817 and gave the company a “hold” rating in a research report on Tuesday, October 28th. UBS Group restated a “buy” rating and set a GBX 1,360 price target on shares of Dunelm Group in a research note on Friday, October 17th. Finally, Shore Capital began coverage on Dunelm Group in a report on Tuesday, November 11th. They issued a “buy” rating and a GBX 1,300 target price for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 1,397.13.

Dunelm Group Stock Performance

The company has a market capitalization of £1.94 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of -10.32 and a beta of 1.18. The company has a debt-to-equity ratio of 236.84, a quick ratio of 0.16 and a current ratio of 1.04. The stock’s fifty day simple moving average is GBX 1,117.28 and its 200-day simple moving average is GBX 1,142.28.

Insiders Place Their Bets

In other Dunelm Group news, insider Karen Witts purchased 10,790 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were purchased at an average cost of GBX 1,104 per share, with a total value of £119,121.60. Also, insider Luisa Wright sold 2,257 shares of Dunelm Group stock in a transaction dated Monday, November 10th. The shares were sold at an average price of GBX 1,121, for a total value of £25,300.97. In the last three months, insiders acquired 17,790 shares of company stock worth $20,056,160 and sold 61,854 shares worth $70,913,541. Company insiders own 34.16% of the company’s stock.

About Dunelm Group

Dunelm is the UK’s market leader in homewares with a purpose ‘to help create the joy of truly feeling at home, now and for generations to come’. Its specialist customer proposition offers value, quality, choice and style across an extensive range of c.70,000 products, spanning multiple homewares and furniture categories and including services such as Made to Measure window treatments.

The business was founded in 1979 by the Adderley family, beginning as a curtains stall on Leicester market before expanding its store footprint.