Grafton Group (LON:GFTU) Board Announces Stock Buyback Program

Grafton Group (LON:GFTU) declared that its board has initiated a stock repurchase plan on Thursday, March 5th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

GFTU has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a GBX 1,175 price target on shares of Grafton Group in a research note on Thursday. Citigroup lowered their price target on Grafton Group from GBX 1,170 to GBX 1,150 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 1,130 price objective on shares of Grafton Group in a report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grafton Group currently has a consensus rating of “Buy” and an average price target of GBX 1,149.

Grafton Group Price Performance

Shares of LON:GFTU opened at GBX 919.40 on Friday. The company has a market capitalization of £2.13 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.58 and a beta of 1.20. Grafton Group has a 1-year low of GBX 790.90 and a 1-year high of GBX 1,035.60. The firm’s 50 day simple moving average is GBX 951.05 and its two-hundred day simple moving average is GBX 928.14. The company has a debt-to-equity ratio of 37.55, a current ratio of 2.11 and a quick ratio of 1.56.

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.