Citigroup Upgrades Diageo (LON:DGE) to “Buy”

Diageo (LON:DGE) was upgraded by analysts at Citigroup to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a GBX 3,000 ($37.95) price objective on the stock. Citigroup’s price objective suggests a potential upside of 18.34% from the stock’s previous close.

Several other research firms have also weighed in on DGE. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Diageo in a research report on Tuesday, April 30th. Barclays lifted their price objective on Diageo from GBX 3,550 ($44.90) to GBX 3,640 ($46.04) and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 2,800 ($35.42) price objective on shares of Diageo in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Diageo has an average rating of “Hold” and an average price target of GBX 3,028 ($38.30).

Diageo Trading Up 1.1 %

LON DGE opened at GBX 2,535 ($32.06) on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.58 and a debt-to-equity ratio of 190.59. Diageo has a twelve month low of GBX 2,165.60 ($27.39) and a twelve month high of GBX 3,509 ($44.38). The firm has a market capitalization of £56.28 billion, a PE ratio of 1,760.42, a P/E/G ratio of 1.58 and a beta of 0.33. The stock’s 50 day moving average is GBX 2,669.76 and its 200 day moving average is GBX 2,795.47.

Insider Transactions at Diageo

In other Diageo news, insider Javier Ferrán purchased 314 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of GBX 2,640 ($33.39) per share, for a total transaction of £8,289.60 ($10,485.20). In other news, insider Javier Ferrán acquired 314 shares of Diageo stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average price of GBX 2,640 ($33.39) per share, for a total transaction of £8,289.60 ($10,485.20). Also, insider Karen Blackett acquired 702 shares of Diageo stock in a transaction that occurred on Monday, April 8th. The shares were purchased at an average price of GBX 2,826 ($35.75) per share, with a total value of £19,838.52 ($25,092.99). Insiders acquired 1,313 shares of company stock worth $3,655,074 over the last quarter. 0.13% of the stock is currently owned by insiders.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.