Diageo (LON:DGE) Reaches New 52-Week Low Following Analyst Downgrade

Diageo plc (LON:DGE)’s share price reached a new 52-week low during trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 2,372 to GBX 2,370. Berenberg Bank currently has a buy rating on the stock. Diageo traded as low as GBX 1,682.50 and last traded at GBX 1,685, with a volume of 82938008 shares. The stock had previously closed at GBX 1,797.50.

Several other equities analysts have also recently weighed in on DGE. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 2,400 price objective on shares of Diageo in a research note on Wednesday, July 16th. The Goldman Sachs Group upgraded Diageo to a “neutral” rating and set a GBX 2,000 target price on the stock in a research note on Thursday, August 7th. Citigroup decreased their price objective on shares of Diageo from GBX 2,750 to GBX 2,480 and set a “buy” rating for the company in a report on Monday, October 20th. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,300 target price on shares of Diageo in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Diageo from GBX 1,950 to GBX 1,915 and set a “hold” rating for the company in a research note on Thursday, October 16th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 2,276.88.

Insider Buying and Selling

In other Diageo news, insider John Alexander Manzoni acquired 358 shares of Diageo stock in a transaction that occurred on Friday, October 10th. The stock was bought at an average cost of GBX 1,833 per share, for a total transaction of £6,562.14. Insiders acquired 1,042 shares of company stock valued at $2,012,634 over the last 90 days. Insiders own 0.16% of the company’s stock.

Diageo Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.94 and a debt-to-equity ratio of 234.57. The company has a market capitalization of £38.39 billion, a PE ratio of 16.33, a PEG ratio of 1.75 and a beta of 0.36. The business has a 50 day simple moving average of GBX 1,826.55 and a 200 day simple moving average of GBX 1,939.57.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company.