Grainger (GRI) Rating Increased to Overweight at JPMorgan Chase & Co.

Grainger (LON:GRI) was upgraded by research analysts at JPMorgan Chase & Co. to an “overweight” rating in a report issued on Thursday. The brokerage currently has a GBX 330 ($4.48) price target on the stock, up from their prior price target of GBX 320 ($4.34). JPMorgan Chase & Co.’s target price indicates a potential upside of 10.07% from the company’s previous close.

A number of other brokerages have also recently commented on GRI. Peel Hunt reiterated a “buy” rating and issued a GBX 300 ($4.07) target price on shares of Grainger in a research report on Friday, November 24th. Numis Securities cut shares of Grainger to an “add” rating and increased their target price for the company from GBX 300 ($4.07) to GBX 323 ($4.38) in a research report on Wednesday, November 29th. Jefferies Group reiterated a “hold” rating and issued a GBX 282 ($3.82) target price on shares of Grainger in a research report on Thursday, January 18th. Finally, N+1 Singer reiterated a “buy” rating and issued a GBX 320 ($4.34) target price on shares of Grainger in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of GBX 310.83 ($4.22).

Shares of Grainger (LON GRI) traded up GBX 3.40 ($0.05) during midday trading on Thursday, hitting GBX 299.80 ($4.07). 1,665,302 shares of the stock were exchanged, compared to its average volume of 880,096. The firm has a market capitalization of $1,250.00 and a PE ratio of 1,665.56. Grainger has a 1-year low of GBX 234.20 ($3.18) and a 1-year high of GBX 385.25 ($5.22).

In other news, insider Helen Gordon acquired 104 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of GBX 285 ($3.86) per share, with a total value of £296.40 ($401.95). Also, insider Justin Read acquired 6,500 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of GBX 279 ($3.78) per share, with a total value of £18,135 ($24,593.17). Insiders purchased 15,576 shares of company stock valued at $4,382,216 in the last three months.

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About Grainger

Grainger plc is a United Kingdom-based company, which operates as a residential landlord. The Company’s segments include Residential, Development, Funds and Other. Its assets include Regulated Tenancy Portfolio, Private Rented Sector Portfolio and Development. It has a portfolio of approximately 8,610 rental homes.

Analyst Recommendations for Grainger (LON:GRI)

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