J. Sainsbury (OTCMKTS:JSAIY) Shares Cross Above 50-Day Moving Average – Here’s Why

J. Sainsbury PLC (OTCMKTS:JSAIY) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $18.40 and traded as high as $18.71. J. Sainsbury shares last traded at $18.68, with a volume of 25,625 shares traded.

Analysts Set New Price Targets

JSAIY has been the subject of several recent research reports. Kepler Capital Markets upgraded J. Sainsbury from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft raised J. Sainsbury to a “buy” rating in a report on Wednesday, December 10th. Zacks Research downgraded J. Sainsbury from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Jefferies Financial Group reissued a “hold” rating on shares of J. Sainsbury in a report on Sunday, December 14th. Finally, Citigroup raised J. Sainsbury to a “strong-buy” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

J. Sainsbury Trading Up 0.9%

The company’s 50-day moving average is $18.40 and its 200-day moving average is $17.96. The company has a current ratio of 0.62, a quick ratio of 0.31 and a debt-to-equity ratio of 0.16.

About J. Sainsbury

J. Sainsbury PLC, trading in the United States under the ticker OTCMKTS:JSAIY, is one of the United Kingdom’s leading grocery retailers. Through its primary Sainsbury’s supermarket banner and smaller convenience formats under the Sainsbury’s Local name, the company offers a wide range of food and household products. In addition to its core retail operations, Sainsbury’s extends into general merchandise and clothing under the TU brand, serving both in-store and through its established e-commerce platform.

Founded in 1869 by John James Sainsbury and his wife Mary Ann, Sainsbury’s has grown from a single dairy shop in London’s Drury Lane to a nationwide retail network.