Grainger (LON:GRI) Stock 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 Monday . The stock has a 200-day moving average of GBX 173.88 and traded as high as GBX 181. Grainger shares last traded at GBX 176.90, with a volume of 1,333,463 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on GRI. Berenberg Bank dropped their price objective on Grainger from GBX 285 to GBX 227 and set a “buy” rating for the company in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Grainger from GBX 336 to GBX 238 and set a “buy” rating on the stock in a research note on Friday, May 15th. Jefferies Financial Group lowered their price target on shares of Grainger from GBX 232 to GBX 210 and set a “buy” rating for the company in a research report on Friday, May 15th. Finally, Citigroup dropped their price target on shares of Grainger from GBX 298 to GBX 253 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Grainger has a consensus rating of “Moderate Buy” and an average target price of GBX 225.60.

Grainger Stock Performance

The stock has a 50 day moving average price of GBX 165.86 and a two-hundred day moving average price of GBX 173.88. The company has a current ratio of 2.04, a quick ratio of 0.87 and a debt-to-equity ratio of 83.71. The company has a market cap of £1.31 billion, a price-to-earnings ratio of 6.48, a P/E/G ratio of 1.51 and a beta of 0.78.

Grainger (LON:GRI) last posted its quarterly earnings results on Thursday, May 14th. The company reported GBX 4.20 earnings per share (EPS) for the quarter. Grainger had a return on equity of 6.53% and a net margin of 54.91%.The business had revenue of £113.70 million for the quarter. Analysts predict that Grainger plc will post 10.4590732 EPS for the current year.

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.