Grafton Group (LON:GFTU) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Grafton Group plc (LON:GFTU)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 925.57 and traded as low as GBX 919. Grafton Group shares last traded at GBX 941.80, with a volume of 171,988 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Peel Hunt restated a “buy” rating and set a GBX 1,160 price target on shares of Grafton Group in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,315 target price on shares of Grafton Group in a report on Friday, September 4th. Citigroup lowered their price target on Grafton Group from £115 to £110 and set a “buy” rating on the stock in a research report on Friday, June 19th. Finally, Berenberg Bank boosted their price objective on Grafton Group from GBX 1,000 to GBX 1,150 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 2,831.67.

Grafton Group Price Performance

The company has a debt-to-equity ratio of 43.55, a quick ratio of 1.56 and a current ratio of 1.83. The company’s 50 day moving average price is GBX 997.01 and its 200-day moving average price is GBX 925.61. The company has a market cap of £1.72 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.58 and a beta of 1.08.

Grafton Group announced that its board has authorized a stock repurchase program on Tuesday, June 30th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider David Arnold sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of GBX 953, for a total transaction of £95,300. 11.52% of the stock is owned by 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.