J Sainsbury (LON:SBRY) Stock Crosses Above 200 Day Moving Average – Here’s Why

J Sainsbury plc (LON:SBRY)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 332.11 and traded as high as GBX 341.60. J Sainsbury shares last traded at GBX 337, with a volume of 9,256,773 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on SBRY. UBS Group reissued a “buy” rating and issued a GBX 395 price target on shares of J Sainsbury in a research note on Friday, June 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 310 price objective on shares of J Sainsbury in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 360 price objective on shares of J Sainsbury in a report on Monday, August 3rd. Citigroup boosted their target price on J Sainsbury from GBX 330 to GBX 346 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 375 target price on shares of J Sainsbury in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 355.17.

J Sainsbury Price Performance

The stock’s fifty day moving average is GBX 341.98 and its 200 day moving average is GBX 332.15. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 107.33. The company has a market capitalization of £7.34 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 0.42 and a beta of 1.00.

Insider Activity

In other news, insider Simon Roberts sold 346,154 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of GBX 333, for a total transaction of £1,152,692.82. Insiders own 0.44% of the company’s stock.

About J Sainsbury

J Sainsbury plc is one of the UK’s leading food, general merchandise and clothing retailers.

Offering delicious, great quality food at competitive prices has been at the heart of what we do since we opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority. Our purpose is that driven by our passion for food, together we serve and help every customer.

Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank.