Diageo (LON:DGE) Hits New 12-Month High – Time to Buy?

Diageo plc (LON:DGE)’s share price reached a new 52-week high during trading on Thursday. The stock traded as high as GBX 1,908 and last traded at GBX 1,871.50, with a volume of 135,508,188 shares changing hands. The stock had previously closed at GBX 1,814.

Analysts Set New Price Targets

Several research analysts recently commented on DGE shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 2,000 price objective on shares of Diageo in a report on Monday, August 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 1,734 target price on shares of Diageo in a research report on Tuesday, October 27th. Berenberg Bank reiterated a “buy” rating and set a GBX 2,223 price objective on shares of Diageo in a research report on Friday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Diageo in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,959.50.

Diageo Stock Up 2.6%

The firm has a market cap of £41.41 billion, a PE ratio of 23.90, a PEG ratio of 1.75 and a beta of 0.31. The company has a debt-to-equity ratio of 203.12, a current ratio of 1.60 and a quick ratio of 0.62. The stock has a 50 day simple moving average of GBX 1,678.12 and a 200-day simple moving average of GBX 1,599.95.

Insider Buying and Selling

In other news, insider John Alexander Manzoni purchased 400 shares of the business’s stock in a transaction on Monday, October 12th. The stock was acquired at an average cost of GBX 1,640 per share, for a total transaction of £6,560. Insiders acquired a total of 1,203 shares of company stock worth $2,000,783 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company. With such diversity, we’re able to truly represent our broad consumer base and think differently about the future.

To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.