Grafton Group (LON:GFTU) Board Announces Share Repurchase Program

Grafton Group (LON:GFTU) announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 5th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GFTU shares. Stifel Nicolaus reiterated a “buy” rating and set a GBX 1,175 price objective on shares of Grafton Group in a report on Thursday. Citigroup lowered their target price on Grafton Group from GBX 1,170 to GBX 1,150 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Finally, Peel Hunt restated a “buy” rating and set a GBX 1,130 target price on shares of Grafton Group in a report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 1,149.

Grafton Group Price Performance

Shares of GFTU opened at GBX 919.40 on Friday. The company has a 50 day moving average of GBX 951.05 and a 200-day moving average of GBX 928.39. Grafton Group has a twelve month low of GBX 790.90 and a twelve month high of GBX 1,035.60. The stock has a market capitalization of £2.13 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.58 and a beta of 1.20. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 37.55.

Grafton Group Company Profile

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.