Diageo (LON:DGE) Stock Rating Reaffirmed as "Buy" by Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Buy” rating on Diageo and set a GBX 2,200 price target, implying 27.76% upside from the previous close.
• Analyst sentiment remains positive overall, with four Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average target price of GBX 2,033.86.
• Diageo shares rose to GBX 1,722 during Wednesday trading, while insider John Alexander Manzoni purchased 400 shares at GBX 1,640 each.

Diageo (LON:DGE - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Jefferies Financial Group in a report issued on Wednesday, Digital Look reports. They currently have a GBX 2,200 price target on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 27.76% from the company's previous close.

Several other analysts have also recently issued reports on the stock. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,223 price objective on shares of Diageo in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Diageo from GBX 1,770 to GBX 1,734 and set a "hold" rating on the stock in a research note on Wednesday, September 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 2,000 target price on shares of Diageo in a research note on Monday, August 24th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 2,033.86.

Diageo Price Performance

Shares of LON DGE traded up GBX 9.50 during mid-day trading on Wednesday, reaching GBX 1,722. The company's stock had a trading volume of 46,978,313 shares, compared to its average volume of 19,451,801. The stock has a 50-day moving average of GBX 1,667.15 and a two-hundred day moving average of GBX 1,569.83. The company has a debt-to-equity ratio of 203.12, a quick ratio of 0.62 and a current ratio of 1.60. The stock has a market capitalization of £38.31 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.75 and a beta of 0.31. Diageo has a 1-year low of GBX 1,295.50 and a 1-year high of GBX 1,903.90.

Insider Activity

In related news, insider John Alexander Manzoni bought 400 shares of the business's stock in a transaction on Monday, October 12th. The stock was acquired at an average cost of GBX 1,640 per share, with a total value of £6,560. Over the last three months, insiders acquired 1,203 shares of company stock valued at $2,000,783. 0.16% of the stock is owned by company insiders.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry. With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we're building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we're a truly global company. With such diversity, we're able to truly represent our broad consumer base and think differently about the future. To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.