JPMorgan Chase & Co. Cuts J Sainsbury (LON:SBRY) Price Target to GBX 350

J Sainsbury (LON:SBRY) had its price objective cut by JPMorgan Chase & Co. from GBX 355 to GBX 350 in a report released on Friday morning, Marketbeat reports. They currently have an overweight rating on the grocer’s stock.

Several other brokerages have also recently issued reports on SBRY. Shore Capital reaffirmed a “house stock” rating on shares of J Sainsbury in a research note on Thursday, November 6th. Citigroup reduced their price target on shares of J Sainsbury from GBX 338 to GBX 333 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, J Sainsbury currently has an average rating of “Moderate Buy” and an average target price of GBX 329.33.

J Sainsbury Stock Performance

LON SBRY opened at GBX 312 on Friday. The stock has a market capitalization of £7.00 billion, a PE ratio of 22.13, a P/E/G ratio of 0.42 and a beta of 0.67. J Sainsbury has a 1-year low of GBX 223.40 and a 1-year high of GBX 360.40. The business has a 50 day simple moving average of GBX 332.42 and a two-hundred day simple moving average of GBX 309.02. The company has a debt-to-equity ratio of 95.36, a current ratio of 0.66 and a quick ratio of 0.53.

J Sainsbury (LON:SBRY) last posted its earnings results on Thursday, November 6th. The grocer reported GBX 10.30 earnings per share (EPS) for the quarter. J Sainsbury had a net margin of 0.42% and a return on equity of 1.94%. On average, research analysts predict that J Sainsbury will post 25.7241977 EPS for the current fiscal year.

Insiders Place Their Bets

In other J Sainsbury news, insider Katie Bickerstaffe bought 2,889 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of GBX 344 per share, with a total value of £9,938.16. Also, insider Bl á thnaid Bergin sold 225,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of GBX 320, for a total value of £720,000. Insiders own 0.41% of the company’s stock.

About J Sainsbury

J Sainsbury plc is one of the UK’s leading food, general merchandise and clothing retailers.

Offering delicious, great quality food at competitive prices has been at the heart of what we do since we opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority.