Galliford Try (LON:GFRD) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Galliford Try Holdings plc (LON:GFRD) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 580.64 and traded as high as GBX 681. Galliford Try shares last traded at GBX 667, with a volume of 353,952 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank upped their target price on shares of Galliford Try from GBX 680 to GBX 750 and gave the stock a “buy” rating in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 650.

Galliford Try Price Performance

The stock has a market capitalization of £676.25 million, a price-to-earnings ratio of 17.17, a PEG ratio of 0.90 and a beta of 0.47. The company has a debt-to-equity ratio of 35.36, a quick ratio of 0.89 and a current ratio of 0.94. The company has a 50 day moving average of GBX 647.55 and a 200 day moving average of GBX 581.37.

Galliford Try (LON:GFRD) last issued its quarterly earnings results on Thursday, September 17th. The company reported GBX 41.70 earnings per share for the quarter. Galliford Try had a return on equity of 32.45% and a net margin of 2.13%. As a group, equities research analysts anticipate that Galliford Try Holdings plc will post 25.16 EPS for the current year.

Galliford Try declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 17th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Galliford Try

In related news, insider Kris Hampson sold 5,117 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of GBX 534, for a total transaction of £27,324.78. Also, insider Bill Hocking sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of GBX 672, for a total transaction of £1,680,000. Over the last three months, insiders have sold 276,955 shares of company stock valued at $185,975,402. Corporate insiders own 3.28% of the company’s stock.

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. We see long-term growth and appropriate margins in these markets.

Our company is founded on our values of excellence, passion, integrity and collaboration, and our vision is to be a people-orientated, progressive business, driven by our values to deliver lasting change for our stakeholders and the communities we work in.