J Sainsbury plc (SBRY) Shares Down 2.4%

J Sainsbury plc (LON:SBRY) dropped 2.4% on Wednesday . The stock traded as low as GBX 239.20 ($3.17) and last traded at GBX 241.60 ($3.20). Approximately 13,021,244 shares traded hands during trading, an increase of 51% from the average daily volume of 8,647,590 shares. The stock had previously closed at GBX 247.50 ($3.28).

Several research firms recently weighed in on SBRY. Citigroup Inc. restated a “buy” rating and set a GBX 305 ($4.05) target price on shares of J Sainsbury plc in a research note on Tuesday, June 20th. Barclays PLC reaffirmed an “equal weight” rating and issued a GBX 260 ($3.45) price target on shares of J Sainsbury plc in a report on Thursday, June 15th. Shore Capital reiterated a “buy” rating on shares of J Sainsbury plc in a research note on Monday, July 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 320 ($4.24) price target on shares of J Sainsbury plc in a research note on Tuesday, August 29th. Finally, HSBC Holdings plc reissued a “reduce” rating and set a GBX 200 ($2.65) price objective on shares of J Sainsbury plc in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of GBX 266.93 ($3.54).

The company has a 50-day moving average price of GBX 237.82 and a 200 day moving average price of GBX 254.65. The stock’s market capitalization is GBX 5.28 billion.

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J Sainsbury plc Company Profile

J Sainsbury plc is engaged in grocery-related retailing and retail banking. The Company’s segments include Retailing; Financial services, and Property investments. The Retailing segment is engaged in the operation of supermarkets and convenience. The Financial services segment includes the operations of Sainsbury’s Bank plc (Sainsbury’s Bank).

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