J. Sainsbury (OTCMKTS:JSAIY) Trading 0.7% Higher After Analyst Upgrade

J. Sainsbury PLC (OTCMKTS:JSAIY) shot up 0.7% during trading on Friday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $18.29 and last traded at $18.0250. 17,233 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 23,781 shares. The stock had previously closed at $17.90.

Several other research analysts have also recently commented on JSAIY. Citigroup upgraded J. Sainsbury from a “hold” rating to a “buy” rating in a research note on Thursday, December 11th. Jefferies Financial Group restated a “hold” rating on shares of J. Sainsbury in a report on Sunday, December 14th. Deutsche Bank Aktiengesellschaft upgraded J. Sainsbury to a “buy” rating in a research note on Wednesday, December 10th. Finally, Kepler Capital Markets upgraded shares of J. Sainsbury from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

J. Sainsbury Stock Up 0.7%

The stock has a 50 day simple moving average of $17.72 and a 200 day simple moving average of $17.19.

J. Sainsbury Company Profile

J. Sainsbury PLC, trading in the United States under the ticker OTCMKTS:JSAIY, is one of the United Kingdom’s leading grocery retailers. Through its primary Sainsbury’s supermarket banner and smaller convenience formats under the Sainsbury’s Local name, the company offers a wide range of food and household products. In addition to its core retail operations, Sainsbury’s extends into general merchandise and clothing under the TU brand, serving both in-store and through its established e-commerce platform.

Founded in 1869 by John James Sainsbury and his wife Mary Ann, Sainsbury’s has grown from a single dairy shop in London’s Drury Lane to a nationwide retail network.