Peel Hunt Lowers Greencore Group (LON:GNC) to Hold

Peel Hunt cut shares of Greencore Group (LON:GNC) to a hold rating in a research report report published on Tuesday morning, Stock Target Advisor reports. The firm currently has GBX 140 ($1.84) price objective on the stock, down from their prior price objective of GBX 170 ($2.24).

A number of other brokerages have also weighed in on GNC. HSBC decreased their target price on Greencore Group from GBX 300 ($3.95) to GBX 270 ($3.55) and set a buy rating on the stock in a research note on Wednesday, March 25th. Jefferies Financial Group lowered Greencore Group to a hold rating and decreased their target price for the stock from GBX 235 ($3.09) to GBX 165 ($2.17) in a research note on Thursday, May 14th. Shore Capital restated a house stock rating on shares of Greencore Group in a research note on Tuesday, February 11th. Berenberg Bank reduced their price objective on Greencore Group from GBX 285 ($3.75) to GBX 225 ($2.96) and set a buy rating on the stock in a research report on Wednesday, April 29th. Finally, Barclays reduced their price objective on Greencore Group from GBX 215 ($2.83) to GBX 205 ($2.70) and set an underweight rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of GBX 206.43 ($2.72).

Shares of LON GNC opened at GBX 127 ($1.67) on Tuesday. The firm has a market capitalization of $566.61 million and a P/E ratio of 6.41. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 108.90. The stock’s 50-day simple moving average is GBX 164.43 and its two-hundred day simple moving average is GBX 214.91. Greencore Group has a twelve month low of GBX 83.40 ($1.10) and a twelve month high of GBX 282.20 ($3.71).

In related news, insider Gordon Hardie purchased 40,000 shares of Greencore Group stock in a transaction that occurred on Thursday, March 26th. The shares were acquired at an average cost of GBX 184 ($2.42) per share, for a total transaction of £73,600 ($96,816.63). Also, insider Patrick F. Coveney purchased 450,000 shares of Greencore Group stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average price of GBX 105 ($1.38) per share, for a total transaction of £472,500 ($621,546.96).

About Greencore Group

Greencore Group plc manufactures and sells various convenience food products primarily in the United Kingdom. The company provides sandwiches, sushi, salads, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, frozen Yorkshire puddings, cakes, and desserts. It also trades in Irish ingredients; and invests in properties.

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Analyst Recommendations for Greencore Group (LON:GNC)

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