Berenberg Bank Cuts Grafton Group (LON:GFTU) Price Target to GBX 1,000

Grafton Group (LON:GFTU) had its price objective lowered by Berenberg Bank from GBX 1,100 to GBX 1,000 in a research report issued on Monday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 24.83% from the stock’s previous close.

Separately, Stifel Nicolaus reiterated a “buy” rating and set a GBX 1,175 target price on shares of Grafton Group in a research report on Thursday, March 19th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 1,129.

Grafton Group Stock Performance

LON:GFTU opened at GBX 801.10 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 37.55. Grafton Group has a 12-month low of GBX 788.60 and a 12-month high of GBX 1,035.60. The stock has a 50-day moving average price of GBX 900.93 and a 200 day moving average price of GBX 927.61. The stock has a market capitalization of £1.86 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.58 and a beta of 1.08.

Grafton Group declared that its board has authorized a stock repurchase plan on Thursday, March 5th that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Eric Born purchased 1,182 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was acquired at an average price of GBX 915 per share, for a total transaction of £10,815.30. 9.33% of the stock is owned by corporate insiders.

About Grafton Group

Grafton Group plc engages in the distribution, retailing, and manufacturing businesses in Ireland, the Netherlands, Finland, and the United Kingdom. Its Distribution segment distributes building materials, paint, tools, ironmongery, fixings, and accessories, workwear and PPE, and spare parts; materials and plant for mechanical services, heating, plumbing, and air movement; and trade, DIY, and self-build markets with building materials, timber, doors and floors, plumbing and heating, bathrooms, and landscaping products under the Selco, Leyland SDM, Chadwicks, MacBlair, Isero, Polvo, Gunters en Meuser, TG Lynes, and IKH brands.