Berenberg Bank Cuts Grainger (LON:GRI) Price Target to GBX 299

Grainger (LON:GRI) had its price objective lowered by Berenberg Bank from GBX 305 ($3.88) to GBX 299 ($3.80) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Grainger Stock Down 2.8 %

LON GRI opened at GBX 244 ($3.10) on Tuesday. The firm has a market cap of £1.80 billion, a PE ratio of 8,133.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67. The company has a debt-to-equity ratio of 79.88, a current ratio of 4.56 and a quick ratio of 0.87. The stock’s 50 day simple moving average is GBX 258.54 and its 200 day simple moving average is GBX 259.77. Grainger has a one year low of GBX 215.40 ($2.74) and a one year high of GBX 278.80 ($3.54).

Grainger Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 23rd will be paid a GBX 2.54 ($0.03) dividend. This represents a dividend yield of 0.93%. The ex-dividend date is Thursday, May 23rd. Grainger’s dividend payout ratio (DPR) is currently 23,333.33%.

Insider Buying and Selling

In other Grainger news, insider Robert Hudson bought 118 shares of Grainger stock in a transaction on Wednesday, April 3rd. The shares were purchased at an average cost of GBX 253 ($3.22) per share, for a total transaction of £298.54 ($379.44). 2.00% of the stock is owned by insiders.

Grainger Company Profile

Grainger plc, together with its subsidiaries, owns, operates, and manages private rental homes in the United Kingdom. The company was formerly known as Grainger Trust Plc and changed the name to Grainger Plc in March 2007. Grainger plc was incorporated in 1912 and is headquartered in Newcastle upon Tyne, the United Kingdom.