Reckitt Benckiser Group (LON:RKT) Share Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• Reckitt Benckiser shares fell below their 200-day moving average, reaching GBX 5,052 before last trading at GBX 5,214.38, below the GBX 5,247 technical level.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of GBX 5,925.33, despite target changes from several firms.
• The company reported quarterly EPS of GBX 101.40 and maintains strong profitability, including a 42.87% return on equity and a 21.09% net margin; two insiders also recently bought shares.

Reckitt Benckiser Group plc (LON:RKT - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 5,247 and traded as low as GBX 5,052. Reckitt Benckiser Group shares last traded at GBX 5,214.38, with a volume of 256,517,016 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Berenberg Bank boosted their price target on shares of Reckitt Benckiser Group from GBX 5,179 to GBX 5,352 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Jefferies Financial Group reduced their price objective on shares of Reckitt Benckiser Group from GBX 6,100 to GBX 5,900 and set a "buy" rating on the stock in a research note on Thursday, October 1st. Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 6,200 price objective on shares of Reckitt Benckiser Group in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Reckitt Benckiser Group from GBX 5,800 to GBX 6,500 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 5,400 target price on shares of Reckitt Benckiser Group in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 5,925.33.

Reckitt Benckiser Group Stock Down 0.1%

The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 179.24. The stock's 50-day moving average price is GBX 5,141.56 and its 200-day moving average price is GBX 5,247. The company has a market cap of £33.05 billion, a P/E ratio of 11.81, a PEG ratio of 1.10 and a beta of 0.26.

Reckitt Benckiser Group (LON:RKT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported GBX 101.40 EPS for the quarter. Reckitt Benckiser Group had a return on equity of 42.87% and a net margin of 21.09%. As a group, research analysts forecast that Reckitt Benckiser Group plc will post 331.21 EPS for the current year.

Insider Transactions at Reckitt Benckiser Group

In related news, insider Deborah Waterhouse purchased 152 shares of Reckitt Benckiser Group stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of GBX 5,189 per share, for a total transaction of £7,887.28. Also, insider Gavin Patterson bought 191 shares of Reckitt Benckiser Group stock in a transaction dated Wednesday, August 26th. The shares were bought at an average cost of GBX 5,183 per share, with a total value of £9,899.53. Corporate insiders own 0.44% of the company's stock.

Reckitt Benckiser Group Company Profile

At Reckitt, we protect, heal and nurture. We are the company behind some of the world's best known and most trusted Health and Hygiene consumer brands. Delivering for a cleaner, healthier world requires strong brands with a global footprint. From Dettol, Lysol, Durex, Finish, Harpic and Vanish, Mucinex, Nurofen, Gaviscon, Veet and Strepsils, consumers love and rely on our brands to care for their families, as they have done for over 200 years. We use our scientific expertise and deep human understanding to develop solutions to help people improve their lives – that is why over 30 million Reckitt products are sold each day worldwide. At Reckitt, we're all making a real difference to people all over the world, every day.

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