Goldman Sachs Keeps Their Buy Rating on J Sainsbury plc (SBRY)

Goldman Sachs analyst Richard Edwards maintained a Buy rating on J Sainsbury plc yesterday and set a price target of p320.00. The company’s shares closed yesterday at p285.00.

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Edwards covers the Consumer Cyclical sector, focusing on stocks such as Inditex, JD Sports Fashion, and PUMA SE NPV. According to TipRanks, Edwards has an average return of -4.7% and a 44.38% success rate on recommended stocks.

In addition to Goldman Sachs, J Sainsbury plc also received a Buy from RBC Capital’s Manjari Dhar in a report issued on July 4. However, on July 2, Morgan Stanley maintained a Sell rating on J Sainsbury plc (LSE: SBRY).

Based on J Sainsbury plc’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of p15.61 billion and a net profit of p191 million. In comparison, last year the company earned a revenue of p15.72 billion and had a GAAP net loss of p18 million

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SBRY in relation to earlier this year.