Grafton Group (LON:GFTU) Hits New 52-Week High – Here’s What Happened

Grafton Group plc (LON:GFTU)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 1,055.80 and last traded at GBX 1,037.20, with a volume of 10745424 shares. The stock had previously closed at GBX 1,038.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GFTU. Berenberg Bank boosted their target price on Grafton Group from GBX 1,000 to GBX 1,150 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,275 price objective on shares of Grafton Group in a research note on Monday, May 18th. Peel Hunt restated a “buy” rating and set a GBX 1,160 price objective on shares of Grafton Group in a report on Monday, July 13th. Finally, Citigroup cut their target price on shares of Grafton Group from £115 to £110 and set a “buy” rating on the stock in a report on Friday, June 19th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 2,825.

Grafton Group Stock Down 0.1%

The firm has a fifty day simple moving average of GBX 960.64 and a 200-day simple moving average of GBX 919.91. The company has a market capitalization of £2.40 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.58 and a beta of 1.07. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 37.55.

Grafton Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 30th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Grafton Group Company Profile

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.