Grafton Group plc (LON:GFTU) Given Average Recommendation of “Buy” by Brokerages

Shares of Grafton Group plc (LON:GFTU) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is GBX 1,153.33.

A number of research firms recently weighed in on GFTU. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 1,175 price target on shares of Grafton Group in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 1,275 price objective on shares of Grafton Group in a research note on Monday, May 18th. Finally, Berenberg Bank lowered their target price on Grafton Group from GBX 1,100 to GBX 1,000 and set a “buy” rating for the company in a research note on Monday, May 18th.

Grafton Group Trading Up 2.5%

Shares of GFTU stock opened at GBX 868.40 on Friday. The company has a market capitalization of £2.01 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.58 and a beta of 1.08. Grafton Group has a 12-month low of GBX 788.60 and a 12-month high of GBX 1,034. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 37.55. The firm has a 50-day moving average price of GBX 867.98 and a 200 day moving average price of GBX 912.69.

Grafton Group declared that its Board of Directors has initiated a stock buyback program on Thursday, March 5th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Eric Born purchased 1,182 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were acquired at an average cost of GBX 915 per share, with a total value of £10,815.30. Insiders own 9.33% of the company’s stock.

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.