Grainger (LON:GRI) Shares Break Above 200 Day Moving Average – What’s Next?

Grainger plc (LON:GRI) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 167.87 and traded as high as GBX 179.70. Grainger shares last traded at GBX 179.50, with a volume of 900,107 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Grainger from GBX 238 to GBX 224 and set a “buy” rating for the company in a research report on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and issued a GBX 200 price target on shares of Grainger in a research report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Grainger presently has a consensus rating of “Moderate Buy” and an average target price of GBX 220.80.

Grainger Trading Up 0.9%

The stock has a market cap of £1.34 billion, a PE ratio of 10.23, a P/E/G ratio of 1.51 and a beta of 0.78. The firm has a 50-day simple moving average of GBX 169.69 and a 200-day simple moving average of GBX 167.96. The company has a quick ratio of 0.87, a current ratio of 2.04 and a debt-to-equity ratio of 83.71.

Grainger Company Profile

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK’s largest listed residential landlord, a Real Estate Investment Trust (REIT) and a leader in the fast-growing build-to-rent sector, providing c.11,000 rental homes to over 25,000 customers. With a pipeline of secured build-to-rent development projects totalling c.4,300 homes and £1.3bn, Grainger is creating thousands more rental homes by investing in cities across the UK.

Grainger works in partnership with a large number of public sector organisations to deliver new homes to local communities, including Transport for London, Network Rail, the Ministry of Defence, Lewisham Borough Council and the Local Pensions Partnership.

The Grainger team is dedicated to the common purpose of Renting Homes, Enriching Lives, backed by a set of core values.