Grafton Group (LON:GFTU) Stock Crosses Below 200-Day Moving Average – Here’s Why

Grafton Group plc (LON:GFTU) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

GFTU has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 1,175 target price on shares of Grafton Group in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,275 target price on shares of Grafton Group in a research note on Monday, May 18th. Finally, Berenberg Bank lowered their price objective on shares of 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, the company has an average rating of “Buy” and a consensus target price of GBX 1,153.33.

Grafton Group Stock Performance

The firm has a market cap of £1.92 billion, a P/E ratio of 9.06, a price-to-earnings-growth 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 business’s fifty day simple moving average is GBX 877.04 and its 200-day simple moving average is GBX 915.30.

Grafton Group announced that its Board of Directors has initiated a share repurchase program on Thursday, March 5th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Grafton Group

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

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.