Grainger (LON:GRI) Shares Pass Above 200-Day Moving Average of $282.82

Grainger PLC (LON:GRI) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $282.82 and traded as high as $294.00. Grainger shares last traded at $290.20, with a volume of 1,303,880 shares trading hands.

A number of research firms have recently commented on GRI. JPMorgan Chase & Co. lowered their target price on Grainger from GBX 370 ($4.55) to GBX 285 ($3.51) and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group raised their target price on Grainger from GBX 310 ($3.81) to GBX 330 ($4.06) and gave the company a “buy” rating in a research note on Thursday, July 16th. Berenberg Bank restated a “buy” rating on shares of Grainger in a research note on Friday, July 3rd. Barclays lifted their price objective on Grainger from GBX 265 ($3.26) to GBX 270 ($3.32) and gave the company an “equal weight” rating in a research note on Friday, May 15th. Finally, Peel Hunt restated an “add” rating on shares of Grainger in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Grainger currently has an average rating of “Buy” and an average target price of GBX 310.83 ($3.83).

The company has a fifty day simple moving average of GBX 288.08 and a 200-day simple moving average of GBX 282.82. The company has a quick ratio of 3.39, a current ratio of 11.65 and a debt-to-equity ratio of 88.74. The firm has a market cap of $1.95 billion and a P/E ratio of 16.97.

The business also recently declared a dividend, which was paid on Friday, July 3rd. Shareholders of record on Thursday, May 28th were issued a dividend of GBX 1.83 ($0.02) per share. This represents a yield of 0.7%. The ex-dividend date was Thursday, May 28th. Grainger’s dividend payout ratio is presently 29.24%.

In related news, insider Vanessa Simms purchased 102 shares of the business’s stock in a transaction on Friday, July 3rd. The stock was acquired at an average price of GBX 297 ($3.65) per share, with a total value of £302.94 ($372.80). Also, insider Helen Gordon purchased 100 shares of the business’s stock in a transaction on Sunday, June 7th. The shares were bought at an average cost of GBX 300 ($3.69) per share, with a total value of £300 ($369.19).

About Grainger (LON:GRI)

Grainger plc, together with its subsidiaries, owns, develops, manages, and rents residential properties in the United Kingdom. The company operates through three segments: Residential, Development, and Funds. It also provides property and asset management services. The company was founded in 1912 and is headquartered in Newcastle upon Tyne, the United Kingdom.

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