Kingfisher (LON:KGF) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Kingfisher plc (LON:KGF) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 298.67 and traded as high as GBX 330.50. Kingfisher shares last traded at GBX 328.20, with a volume of 7,521,672 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KGF. Deutsche Bank Aktiengesellschaft upgraded shares of Kingfisher to a “hold” rating and boosted their price target for the company from GBX 300 to GBX 330 in a report on Friday, October 2nd. Royal Bank Of Canada restated an “outperform” rating and set a GBX 350 price objective on shares of Kingfisher in a research note on Friday, July 10th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 291 price objective on shares of Kingfisher in a research note on Monday, July 27th. Finally, Berenberg Bank boosted their price objective on Kingfisher from GBX 295 to GBX 320 and gave the stock a “hold” rating in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 316.71.

Kingfisher Stock Performance

The company has a 50 day simple moving average of GBX 317.64 and a 200-day simple moving average of GBX 298.67. The company has a debt-to-equity ratio of 38.32, a current ratio of 1.23 and a quick ratio of 0.27. The firm has a market cap of £5.36 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.87 and a beta of 1.13.

Kingfisher (LON:KGF) last posted its quarterly earnings data on Tuesday, September 22nd. The home improvement retailer reported GBX 17.80 earnings per share for the quarter. Kingfisher had a return on equity of 4.86% and a net margin of 2.29%. As a group, equities research analysts anticipate that Kingfisher plc will post 23.69 EPS for the current year.

Kingfisher announced that its board has initiated a share buyback program on Tuesday, September 22nd that permits the company to buy back 0 outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Share repurchase programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Kingfisher

In other news, insider Thierry Garnier sold 732,309 shares of Kingfisher stock in a transaction on Friday, September 25th. The stock was sold at an average price of GBX 329, for a total transaction of £2,409,296.61. 0.44% of the stock is currently owned by insiders.

About Kingfisher

Kingfisher plc is an international home improvement company with over 1,800 stores, supported by a team of more than 70,000 colleagues. We operate in seven countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels.