Stock Buyback Plan Declared by Galliford Try (LON:GFRD) Board of Directors

Galliford Try (LON:GFRD) announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 17th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their target price on Galliford Try from GBX 510 to GBX 530 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Galliford Try currently has an average rating of “Buy” and a consensus price target of GBX 530.

Galliford Try Stock Up 11.1%

Shares of LON:GFRD opened at GBX 479.50 on Thursday. The business’s 50 day simple moving average is GBX 436.12 and its two-hundred day simple moving average is GBX 403.85. The firm has a market cap of £471.71 million, a P/E ratio of 1,242.23, a PEG ratio of 0.90 and a beta of 1.12. The company has a debt-to-equity ratio of 43.30, a quick ratio of 0.89 and a current ratio of 0.92. Galliford Try has a 52-week low of GBX 264 and a 52-week high of GBX 487.50.

Galliford Try (LON:GFRD) last announced its quarterly earnings results on Wednesday, September 17th. The company reported GBX 34.40 earnings per share (EPS) for the quarter. Galliford Try had a return on equity of 32.22% and a net margin of 2.04%. As a group, research analysts forecast that Galliford Try will post 25.1560178 EPS for the current fiscal year.

About Galliford Try

Galliford Try is one of the UK’s leading construction groups, working to improve the UK’s built environment, delivering positive, lasting change for the communities we work in on behalf of our clients.

Our business operates mainly under the Galliford Try and Morrison Construction brands, focusing on areas where we have core and proven strengths, namely in Building, Highways and Environment.