Diageo (LON:DGE) Downgraded by Deutsche Bank Aktiengesellschaft to Hold

Key Points

• Deutsche Bank downgraded Diageo to “hold” from its previous rating and set a GBX 1,700 price target, implying approximately 4.26% upside from the current price.
• Analyst sentiment remains moderately positive overall: Diageo has four Buy and four Hold ratings, with an average rating of “Moderate Buy.”
• Diageo shares opened at GBX 1,630.50, down 2.5%, while insiders recently purchased 4,606 shares valued at approximately £7.0 million.

Diageo (LON:DGE - Get Free Report) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft to a "hold" rating in a report released on Wednesday,Digital Look reports. They currently have a GBX 1,700 price objective on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 4.26% from the stock's current price.

A number of other research analysts have also recently commented on DGE. Royal Bank Of Canada reaffirmed an "outperform" rating and set a GBX 2,000 target price on shares of Diageo in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a £222.30 price objective on shares of Diageo in a research report on Friday, June 26th. Finally, UBS Group reiterated a "neutral" rating and issued a GBX 1,600 target price on shares of Diageo in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of GBX 4,547.50.

Diageo Stock Down 2.5%

LON DGE opened at GBX 1,630.50 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 208.59. Diageo has a 52 week low of GBX 1,295.50 and a 52 week high of GBX 2,142. The firm has a market capitalization of £36.26 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.75 and a beta of 0.31. The company has a fifty day moving average of GBX 1,539.75 and a two-hundred day moving average of GBX 1,558.38.

Insider Activity at Diageo

In other news, insider John Alexander Manzoni acquired 436 shares of the company's stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of GBX 1,503 per share, with a total value of £6,553.08. Also, insider John Rishton acquired 3,274 shares of Diageo stock in a transaction on Monday, May 18th. The shares were purchased at an average price of GBX 1,527 per share, for a total transaction of £49,993.98. Insiders have bought 4,606 shares of company stock valued at $7,012,849 in the last ninety days. Insiders own 0.16% of the company's stock.

About Diageo

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.

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