Grainger (LON:GRI) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Grainger shares moved above their 200-day moving average, reaching GBX 179.70 and last trading at GBX 179.50 on volume of 900,107 shares.
• Analyst sentiment remains positive: four analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 220.80. Deutsche Bank lowered its target to GBX 224 while maintaining a Buy rating, and Jefferies reiterated its Buy rating with a GBX 200 target.
• Grainger is the UK’s largest listed residential landlord and a major build-to-rent operator, with about 11,000 rental homes and a secured pipeline of roughly 4,300 additional homes valued at £1.3 billion.

Shares of Grainger plc (LON:GRI - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 167.87 and traded as high as GBX 179.70. Grainger shares last traded at GBX 179.50, with a volume of 900,107 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GRI. Deutsche Bank Aktiengesellschaft cut their price target on Grainger from GBX 238 to GBX 224 and set a "buy" rating on the stock in a report on Monday, August 3rd. Jefferies Financial Group reiterated a "buy" rating and set a GBX 200 price objective on shares of Grainger in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 220.80.

Grainger Price Performance

The company has a current ratio of 2.04, a quick ratio of 0.87 and a debt-to-equity ratio of 83.71. The firm has a 50-day simple moving average of GBX 169.59 and a two-hundred day simple moving average of GBX 167.87. The stock has a market cap of £1.33 billion, a P/E ratio of 10.14, a PEG ratio of 1.51 and a beta of 0.78.

Grainger Company Profile

Founded in Newcastle upon Tyne in 1912, Grainger plc, a FTSE 250 business, is the UK's largest listed residential landlord, a Real Estate Investment Trust (REIT) and a leader in the fast-growing build-to-rent sector, providing c.11,000 rental homes to over 25,000 customers. With a pipeline of secured build-to-rent development projects totalling c.4,300 homes and £1.3bn, Grainger is creating thousands more rental homes by investing in cities across the UK. Grainger works in partnership with a large number of public sector organisations to deliver new homes to local communities, including Transport for London, Network Rail, the Ministry of Defence, Lewisham Borough Council and the Local Pensions Partnership. The Grainger team is dedicated to the common purpose of Renting Homes, Enriching Lives, backed by a set of core values.

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