Grafton Group plc (LON:GFTU – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 906.97 and traded as high as GBX 981.80. Grafton Group shares last traded at GBX 966.75, with a volume of 529,489 shares.
Analysts Set New Price Targets
A number of research firms have commented on GFTU. Berenberg Bank raised their target price on shares of Grafton Group from GBX 1,000 to GBX 1,150 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Citigroup dropped their price objective on shares of Grafton Group from £115 to £110 and set a “buy” rating on the stock in a research note on Friday, June 19th. Peel Hunt reissued a “buy” rating and set a GBX 1,160 price objective on shares of Grafton Group in a report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 1,275 price objective on shares of Grafton Group in a research note on Monday, May 18th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of GBX 2,825.
Read Our Latest Stock Analysis on GFTU
Grafton Group Trading Up 0.7%
Grafton Group declared that its board has approved a stock repurchase program on Tuesday, June 30th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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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