Grainger (LON:GRI) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Grainger plc (LON:GRI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 190.60 and traded as high as GBX 195.80. Grainger shares last traded at GBX 195.80, with a volume of 1,373,791 shares changing hands.

Wall Street Analysts Forecast Growth

GRI has been the topic of several research analyst reports. Berenberg Bank lifted their price target on Grainger from GBX 260 to GBX 285 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Peel Hunt reduced their price target on shares of Grainger from GBX 220 to GBX 200 and set a “hold” rating for the company in a research report on Thursday, January 8th. Finally, Jefferies Financial Group increased their price target on shares of Grainger from GBX 267 to GBX 270 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 251.67.

Grainger Stock Up 0.7%

The company has a market capitalization of £1.41 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.51 and a beta of 0.71. The company has a current ratio of 4.49, a quick ratio of 0.87 and a debt-to-equity ratio of 84.49. The firm’s 50 day simple moving average is GBX 188.48 and its 200-day simple moving average is GBX 190.60.

Grainger (LON:GRI) last issued its earnings results on Thursday, November 20th. The company reported GBX 9.30 earnings per share for the quarter. Grainger had a negative net margin of 0.40% and a negative return on equity of 0.06%. On average, sell-side analysts anticipate that Grainger plc will post 10.4590732 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grainger news, insider Michael Brodtman acquired 16,129 shares of the company’s stock in a transaction that occurred on Thursday, November 27th. The shares were purchased at an average price of GBX 186 per share, with a total value of £29,999.94. Also, insider Robert Hudson sold 46,435 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of GBX 189, for a total value of £87,762.15. In the last 90 days, insiders have acquired 16,611 shares of company stock worth $3,089,570 and have sold 164,321 shares worth $30,113,581. 1.45% of the stock is currently owned by insiders.

About Grainger

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK’s largest listed residential landlord, a Real Estate Investment Trust (REIT) and a leader in the fast-growing build-to-rent sector, providing c.11,000 rental homes to over 25,000 customers. With a pipeline of secured build-to-rent development projects totalling c.4,300 homes and £1.3bn, Grainger is creating thousands more rental homes by investing in cities across the UK.

Grainger works in partnership with a large number of public sector organisations to deliver new homes to local communities, including Transport for London, Network Rail, the Ministry of Defence, Lewisham Borough Council and the Local Pensions Partnership.

The Grainger team is dedicated to the common purpose of Renting Homes, Enriching Lives, backed by a set of core values.