Reckitt Benckiser Group (LON:RKT) Trading 2.2% Higher - Here's What Happened

Reckitt Benckiser Group plc (LON:RKT - Get Free Report) shot up 2.2% during mid-day trading on Friday . The stock traded as high as GBX 4,868 ($61.03) and last traded at GBX 4,847 ($60.76). 1,886,302 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 3,203,260 shares. The stock had previously closed at GBX 4,741 ($59.43).

Wall Street Analyst Weigh In

Several brokerages have commented on RKT. Berenberg Bank cut their price target on shares of Reckitt Benckiser Group from GBX 5,200 ($65.19) to GBX 5,177 ($64.90) and set a "hold" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut Reckitt Benckiser Group to a "neutral" rating in a research report on Friday, August 30th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 4,400 ($55.16) price target on shares of Reckitt Benckiser Group in a report on Monday, July 29th.

Reckitt Benckiser Group Price Performance

The company has a market capitalization of £33.50 billion, a PE ratio of 2,233.64, a price-to-earnings-growth ratio of 1.10 and a beta of 0.09. The company has a quick ratio of 0.46, a current ratio of 0.69 and a debt-to-equity ratio of 112.52. The firm's 50-day moving average is GBX 4,714.96 and its 200-day moving average is GBX 4,495.09.

Insider Transactions at Reckitt Benckiser Group

In other Reckitt Benckiser Group news, insider Fiona Dawson purchased 25 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of GBX 4,923 ($61.71) per share, with a total value of £1,230.75 ($1,542.87). Company insiders own 0.05% of the company's stock.

Reckitt Benckiser Group Company Profile

Reckitt Benckiser Group plc manufactures and sells health, hygiene, and nutrition products worldwide. It offers acne treatment creams, facial washes, and cleansing pads; germ protection products; condoms; heartburn and indigestion solutions; joints health products; chest congestion, cough, and sinus remedies; brain health products; migraine-headaches and rheumatic pain products; sore throat medications; and hair removal products under the Airborne, Clearasil, Dettol, Durex, Gaviscon, Move Free, Neuriva, Nurofen, Mucinex, Strepsils, and Veet brands.