Diageo (LON:DGE) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Diageo plc (LON:DGE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 0 ($0.00) and traded as high as GBX 2,515 ($31.53). Diageo shares last traded at GBX 2,497.50 ($31.31), with a volume of 730,702 shares.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group raised Diageo to a “buy” rating and set a GBX 2,800 ($35.10) price objective on the stock in a research note on Friday, December 6th. UBS Group raised shares of Diageo to a “buy” rating and raised their price target for the stock from GBX 2,300 ($28.83) to GBX 2,920 ($36.61) in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Diageo presently has an average rating of “Hold” and a consensus price target of GBX 2,993.33 ($37.52).

Diageo Price Performance

The firm has a market capitalization of £55.44 billion, a price-to-earnings ratio of 1,892.05, a PEG ratio of 1.75 and a beta of 0.36. The company’s 50-day simple moving average is GBX 2,464.87. The company has a current ratio of 1.53, a quick ratio of 0.62 and a debt-to-equity ratio of 186.26.

Insider Buying and Selling at Diageo

In related news, insider Javier Ferrán purchased 352 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of GBX 2,350 ($29.46) per share, with a total value of £8,272 ($10,369.81). Insiders acquired 1,015 shares of company stock worth $2,476,438 in the last 90 days. 0.11% of the stock is owned by company insiders.

Diageo Company Profile

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.