Reckitt (RKT) was downgraded to a Hold Rating at RBC Capital
RBC Capital analyst James Edwardes Jones downgraded Reckitt to a Hold today and set a price target of p6,200.00.
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According to TipRanks, Edwardes Jones is a 4-star analyst with an average return of 3.9% and a 65.55% success rate. Edwardes Jones covers the Consumer Defensive sector, focusing on stocks such as Diageo, Unilever, and Heineken NV.
In addition to RBC Capital, Reckitt also received a Hold from Jefferies’s David Hayes in a report issued on January 7. However, today, Citi initiated coverage with a Buy rating on Reckitt (LSE: RKT).
Based on Reckitt’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p3.49 billion and a net profit of p479 million. In comparison, last year the company earned a revenue of p7.17 billion and had a net profit of p1.14 billion
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RKT in relation to earlier this year.
Read More on GB:RKT:
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- Reckitt Adjusts Capital Structure With Share Buyback and Treasury Share Cancellation
- Reckitt Buys Back Shares and Adjusts Treasury Stock, Setting New Voting Rights Total
- Reckitt Benckiser Adds to Treasury Stock with New Share Buyback
- Reckitt Buys Back 49,000 Shares, Sets New Voting Rights Total
- Reckitt Buys Back 49,570 Shares, Updates Voting Rights Total
