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

Shares of Grafton Group plc (LON:GFTU) reached a new 52-week high on Tuesday . The stock traded as high as GBX 1,019 and last traded at GBX 1,011.27, with a volume of 696961 shares traded. The stock had previously closed at GBX 992.10.

Wall Street Analyst Weigh In

Several equities analysts have commented on GFTU shares. Citigroup dropped their price target 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,275 price objective on shares of Grafton Group in a research report on Monday, May 18th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,160 target price on shares of Grafton Group in a research report on Monday, July 13th. Finally, Berenberg Bank lifted their price target on shares of Grafton Group from GBX 1,000 to GBX 1,150 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 2,825.

Grafton Group Stock Up 1.9%

The stock has a market cap of £2.34 billion, a PE ratio of 11.05, a P/E/G ratio of 1.58 and a beta of 1.07. The business has a 50 day moving average of GBX 892.30 and a 200-day moving average of GBX 908.04. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 37.55.

Grafton Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, June 30th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.