Grafton Group (LON:GFTU) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Grafton Group plc (LON:GFTU)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 910.22 and traded as low as GBX 899. Grafton Group shares last traded at GBX 914.40, with a volume of 13,515,152 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 1,175 price target on shares of Grafton Group in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,275 price objective on shares of Grafton Group in a research note on Monday, May 18th. Citigroup dropped their price objective on Grafton Group from £115 to £110 and set a “buy” rating on the stock in a report on Friday, June 19th. Finally, Berenberg Bank cut their target price on Grafton Group from GBX 1,100 to GBX 1,000 and set a “buy” rating on the stock in a research report on Monday, May 18th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Grafton Group currently has a consensus rating of “Buy” and an average price target of GBX 2,795.

Grafton Group Stock Down 0.4%

The stock has a market capitalization of £2.12 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.58 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 37.55. The stock’s 50 day simple moving average is GBX 864.92 and its 200 day simple moving average is GBX 910.22.

Grafton Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 5th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Grafton Group

In related news, insider Eric Born purchased 1,182 shares of Grafton Group stock in a transaction dated Wednesday, April 8th. The shares were acquired at an average price 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.