Burberry Group (LON:BRBY) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Burberry Group plc (LON:BRBY)’s stock price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of GBX 1,047.10 and traded as high as GBX 1,058.50. Burberry Group shares last traded at GBX 1,051.50, with a volume of 1,417,508 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BRBY. Citigroup lowered their price target on Burberry Group from GBX 1,560 to GBX 1,510 and set a “buy” rating for the company in a report on Wednesday, August 12th. Royal Bank Of Canada cut Burberry Group to a “sector perform” rating and lowered their target price for the company from GBX 1,400 to GBX 1,200 in a research note on Tuesday, September 22nd. Finally, Berenberg Bank restated a “hold” rating and set a GBX 1,080 price objective on shares of Burberry Group in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 1,256.25.

Burberry Group Stock Performance

The business has a 50 day moving average price of GBX 1,047.10 and a two-hundred day moving average price of GBX 1,109.70. The company has a quick ratio of 1.63, a current ratio of 1.87 and a debt-to-equity ratio of 162.02. The stock has a market cap of £3.77 billion, a P/E ratio of 178.22, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70.

About Burberry Group

Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags. The company also licenses third parties to manufacture and distribute products using the Burberry trademarks. It sells its products through Burberry mainline stores, concessions, outlets, digital commerce, Burberry franchisees, department stores, and multi-brand specialty accounts, as well as through Burberry.com website.