Citigroup Issues Positive Forecast for J Sainsbury (LON:SBRY) Stock Price

J Sainsbury (LON:SBRY) had its target price raised by equities research analysts at Citigroup from GBX 330 to GBX 346 in a research report issued on Friday,London Stock Exchange reports. The brokerage currently has a “neutral” rating on the grocer’s stock. Citigroup’s price objective indicates a potential downside of 1.31% from the company’s previous close.

Several other analysts also recently weighed in on SBRY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 360 target price on shares of J Sainsbury in a research report on Monday. Shore Capital Group restated a “house stock” rating on shares of J Sainsbury in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 375 price objective on shares of J Sainsbury in a research note on Thursday, July 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 310 price objective on shares of J Sainsbury in a report on Wednesday, July 1st. Finally, UBS Group reissued a “buy” rating and set a GBX 395 target price on shares of J Sainsbury in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 355.17.

J Sainsbury Price Performance

J Sainsbury stock opened at GBX 350.60 on Friday. The company’s 50 day simple moving average is GBX 328.70 and its 200-day simple moving average is GBX 332.02. The company has a debt-to-equity ratio of 107.33, a quick ratio of 0.53 and a current ratio of 0.56. J Sainsbury has a 1 year low of GBX 292.27 and a 1 year high of GBX 380.30. The company has a market capitalization of £7.70 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 0.42 and a beta of 1.00.

About J Sainsbury

J Sainsbury plc is one of the UK’s leading food, general merchandise and clothing retailers.

Offering delicious, great quality food at competitive prices has been at the heart of what we do since we opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority. Our purpose is that driven by our passion for food, together we serve and help every customer.

Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank.