Grafton Group (LON:GFTU) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Grafton Group's stock price has recently crossed above its 200-day moving average, reaching a high of GBX 931.50 ($12.48) during trading.
• Berenberg Bank has reissued a "buy" rating for Grafton Group with a price target of GBX 1,100, indicating positive analyst sentiment towards the stock.
• The company's market capitalization stands at £2.13 billion, with a notable P/E ratio of 1,003.06, suggesting high valuation relative to earnings.

Grafton Group plc (LON:GFTU - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 924.35 ($12.39) and traded as high as GBX 931.50 ($12.48). Grafton Group shares last traded at GBX 912.10 ($12.22), with a volume of 191,096 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 1,100 price objective on shares of Grafton Group in a research note on Thursday, September 4th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 1,100.

Grafton Group Stock Performance

The company has a debt-to-equity ratio of 37.66, a current ratio of 2.21 and a quick ratio of 1.56. The stock's 50 day simple moving average is GBX 889.25 and its two-hundred day simple moving average is GBX 924.35. The stock has a market cap of £2.13 billion, a P/E ratio of 1,003.06, a price-to-earnings-growth ratio of 1.58 and a beta of 1.60.

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.

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