Coles Group (OTCMKTS:CLEGF) Stock Price Up 1.7% – Here’s Why

Coles Group Limited (OTCMKTS:CLEGF) shares rose 1.7% during mid-day trading on Friday. The stock traded as high as $17.15 and last traded at $17.15. Approximately 390 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 420 shares. The stock had previously closed at $16.86.

Analyst Ratings Changes

Separately, Citigroup cut shares of Coles Group to a “neutral” rating in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.00.

Coles Group Stock Performance

The company’s 50-day moving average price is $16.67 and its 200-day moving average price is $16.26.

About Coles Group

Coles Group Limited is an Australian retail company that operates supermarkets and liquor stores across Australia. Its Coles Supermarkets and Coles Local stores sell groceries, fresh food, household products, health and beauty items, and other everyday necessities through physical stores and online channels. The company also offers a range of products under private-label brands.

Coles Group’s liquor operations include Liquorland, First Choice Liquor and Vintage Cellars. The company provides home delivery and digital shopping services, supported by online fulfillment capabilities.