Berenberg Bank Forecasts Strong Price Appreciation for Grafton Group (LON:GFTU) Stock

Grafton Group (LON:GFTU) had its target price boosted by research analysts at Berenberg Bank from GBX 1,000 to GBX 1,150 in a research report issued on Wednesday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 32.32% from the stock’s previous close.

A number of other research firms also recently commented on GFTU. Citigroup dropped their price objective on Grafton Group from £115 to £110 and set a “buy” rating on the stock in a report on Friday, June 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,275 price objective on shares of Grafton Group in a report on Monday, May 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a GBX 1,175 target price on shares of Grafton Group in a report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 2,820.

Grafton Group Stock Down 1.0%

Grafton Group stock opened at GBX 869.10 on Wednesday. Grafton Group has a 1-year low of GBX 788.60 and a 1-year high of GBX 1,009.80. The company has a debt-to-equity ratio of 37.55, a current ratio of 2.11 and a quick ratio of 1.56. The stock has a market cap of £2.01 billion, a PE ratio of 9.50, a P/E/G ratio of 1.58 and a beta of 1.07. The stock’s fifty day moving average is GBX 859.57 and its two-hundred day moving average is GBX 908.83.

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