Grafton Group (LON:GFTU) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Grafton Group plc (LON:GFTU)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 916.98 and traded as low as GBX 813.70. Grafton Group shares last traded at GBX 818.60, with a volume of 360,945 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 1,175 target price on shares of Grafton Group in a research note on Thursday, March 19th. Berenberg Bank lowered their target price on shares of Grafton Group from GBX 1,100 to GBX 1,000 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 1,275 target price on shares of Grafton Group in a research note on Monday, May 18th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 1,153.33.

Grafton Group Price Performance

The business’s 50 day moving average is GBX 881.08 and its two-hundred day moving average is GBX 916.98. The firm has a market capitalization of £1.90 billion, a PE ratio of 8.94, a P/E/G ratio of 1.58 and a beta of 1.08. The company has a debt-to-equity ratio of 37.55, a current ratio of 2.11 and a quick ratio of 1.56.

Grafton Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 5th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Eric Born bought 1,182 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were acquired at an average cost of GBX 915 per share, with a total value of £10,815.30. 9.33% of the stock is owned by corporate insiders.

Grafton Group Company Profile

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.