Diageo (LON:DGE) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Diageo plc (LON:DGE) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 0 ($0.00) and traded as high as GBX 2,280.32 ($28.29). Diageo shares last traded at GBX 2,259 ($28.02), with a volume of 4,337,748 shares traded.

Analyst Ratings Changes

Several brokerages have weighed in on DGE. UBS Group raised Diageo to a “buy” rating and boosted their price objective for the stock from GBX 2,300 ($28.53) to GBX 2,920 ($36.22) in a report on Thursday, December 12th. Jefferies Financial Group raised shares of Diageo to a “buy” rating and set a GBX 2,800 ($34.74) price target for the company in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 2,500 ($31.01) price objective on shares of Diageo in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 2,876.67 ($35.69).

Diageo Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.53 and a debt-to-equity ratio of 186.26. The stock has a market cap of £49.33 billion, a price-to-earnings ratio of 1,683.33, a PEG ratio of 1.75 and a beta of 0.36. The stock’s fifty day moving average is GBX 2,446.19 and its 200-day moving average is GBX 2,469.89.

Insider Buying and Selling

In related news, insider Javier Ferrán acquired 339 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of GBX 2,446 ($30.34) per share, for a total transaction of £8,291.94 ($10,286.49). In the last quarter, insiders have acquired 696 shares of company stock valued at $1,669,084. 0.11% of the stock is 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.