Reckitt Benckiser Group (LON:RKT) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Shares of Reckitt Benckiser Group plc (LON:RKT) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 5,247 and traded as low as GBX 5,052. Reckitt Benckiser Group shares last traded at GBX 5,214.38, with a volume of 256,517,016 shares traded.

Wall Street Analysts Forecast Growth

RKT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Reckitt Benckiser Group from GBX 5,800 to GBX 6,500 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 5,400 target price on shares of Reckitt Benckiser Group in a report on Thursday, July 30th. Berenberg Bank raised their price target on Reckitt Benckiser Group from GBX 5,179 to GBX 5,352 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 6,200 price objective on shares of Reckitt Benckiser Group in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 5,900 price objective on shares of Reckitt Benckiser Group in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Reckitt Benckiser Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 5,925.33.

Reckitt Benckiser Group Trading Up 1.5%

The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 179.24. The business’s fifty day simple moving average is GBX 5,146.52 and its two-hundred day simple moving average is GBX 5,242.34. The company has a market cap of £33.60 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.10 and a beta of 0.26.

Reckitt Benckiser Group (LON:RKT) last announced its earnings results on Wednesday, July 29th. The company reported GBX 101.40 EPS for the quarter. Reckitt Benckiser Group had a net margin of 21.09% and a return on equity of 42.87%. On average, equities analysts predict that Reckitt Benckiser Group plc will post 331.21 EPS for the current year.

Insiders Place Their Bets

In other news, insider Deborah Waterhouse acquired 152 shares of Reckitt Benckiser Group stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average cost of GBX 5,189 per share, with a total value of £7,887.28. Also, insider Gavin Patterson bought 191 shares of the stock in a transaction on Wednesday, August 26th. The stock was purchased at an average cost of GBX 5,183 per share, for a total transaction of £9,899.53. Corporate insiders own 0.44% of the company’s stock.

Reckitt Benckiser Group Company Profile

At Reckitt, we protect, heal and nurture. We are the company behind some of the world’s best known and most trusted Health and Hygiene consumer brands.

Delivering for a cleaner, healthier world requires strong brands with a global footprint. From Dettol, Lysol, Durex, Finish, Harpic and Vanish, Mucinex, Nurofen, Gaviscon, Veet and Strepsils, consumers love and rely on our brands to care for their families, as they have done for over 200 years.

We use our scientific expertise and deep human understanding to develop solutions to help people improve their lives – that is why over 30 million Reckitt products are sold each day worldwide.

At Reckitt, we’re all making a real difference to people all over the world, every day.