Grafton Group (LON:GFTU) Initiates Stock Buyback Program

Grafton Group (LON:GFTU) declared that its board has authorized a stock repurchase program on Thursday, March 5th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GFTU. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,130 target price on shares of Grafton Group in a report on Thursday, November 13th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 1,175 price objective on shares of Grafton Group in a research report on Thursday. Finally, Citigroup dropped their target price on shares of Grafton Group from GBX 1,170 to GBX 1,150 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grafton Group has an average rating of “Buy” and an average price target of GBX 1,149.

Grafton Group Price Performance

Shares of GFTU stock opened at GBX 938.20 on Friday. The stock has a 50 day moving average of GBX 951.27 and a two-hundred day moving average of GBX 927.90. The company has a current ratio of 1.94, a quick ratio of 1.56 and a debt-to-equity ratio of 39.87. Grafton Group has a 12 month low of GBX 790.90 and a 12 month high of GBX 1,035.60. The company has a market capitalization of £2.17 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.58 and a beta of 1.20.

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.