Royal Bank of Canada Lowers Diageo (LON:DGE) Price Target to GBX 2,100

Diageo (LON:DGE) had its price target reduced by research analysts at Royal Bank of Canada from GBX 2,500 ($32.16) to GBX 2,100 ($27.01) in a research note issued on Wednesday, Digital Look reports. The brokerage currently has an “underperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential downside of 14.39% from the stock’s previous close.

DGE has been the subject of several other reports. Citigroup reissued a “buy” rating and set a GBX 3,000 ($38.59) price target on shares of Diageo in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Diageo in a research note on Tuesday, April 30th. Barclays boosted their target price on shares of Diageo from GBX 3,550 ($45.67) to GBX 3,640 ($46.82) and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 2,800 ($36.02) target price on shares of Diageo in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 2,948 ($37.92).

Diageo Trading Up 1.4 %

Shares of DGE stock opened at GBX 2,453 ($31.55) on Wednesday. Diageo has a 12-month low of GBX 2,165.60 ($27.86) and a 12-month high of GBX 3,509 ($45.14). The company has a market capitalization of £54.46 billion, a P/E ratio of 1,703.47, a P/E/G ratio of 1.58 and a beta of 0.33. The firm has a 50-day moving average price of GBX 2,565.48 and a 200 day moving average price of GBX 2,753.36. The company has a quick ratio of 0.62, a current ratio of 1.58 and a debt-to-equity ratio of 190.59.

Insider Activity at Diageo

In other news, insider Javier Ferrán acquired 314 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of GBX 2,640 ($33.96) per share, for a total transaction of £8,289.60 ($10,663.24). Over the last 90 days, insiders bought 612 shares of company stock worth $1,671,964. 0.13% of the stock is currently owned by company insiders.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.