Greencore Group (LON:GNC) Share Price Passes Above 200 Day Moving Average – Here’s Why

Greencore Group plc (LON:GNCGet Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 241.98 and traded as high as GBX 264.60. Greencore Group shares last traded at GBX 260.95, with a volume of 9,351,493 shares trading hands.

Analyst Upgrades and Downgrades

GNC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 325 price target on shares of Greencore Group in a research report on Thursday, May 28th. Jefferies Financial Group reissued a “hold” rating and set a GBX 185 target price on shares of Greencore Group in a research report on Thursday, May 28th. Shore Capital Group reaffirmed a “house stock” rating on shares of Greencore Group in a report on Monday, July 20th. Berenberg Bank reiterated a “buy” rating and set a GBX 351 price objective on shares of Greencore Group in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada raised shares of Greencore Group to an “outperform” rating and boosted their price objective for the company from GBX 330 to GBX 345 in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 301.50.

Get Our Latest Analysis on GNC

Greencore Group Stock Performance

The business’s 50-day simple moving average is GBX 213.48 and its two-hundred day simple moving average is GBX 241.98. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 80.03. The firm has a market cap of £2.08 billion, a price-to-earnings ratio of 93.64, a P/E/G ratio of 0.10 and a beta of 0.84.

Insider Buying and Selling

In related news, insider Leslie Van de Walle purchased 350,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was acquired at an average cost of GBX 238 per share, for a total transaction of £833,000. Also, insider Alastair S. N. Murray bought 25,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of GBX 205 per share, with a total value of £51,250. Over the last ninety days, insiders bought 646,700 shares of company stock worth $143,176,800. 1.14% of the stock is owned by corporate insiders.

Greencore Group Company Profile

(Get Free Report)

We are a leading manufacturer of convenience food in the UK and our purpose is to make every day taste better. To help us achieve this we have a model called The Greencore Way, which is built on the differentiators of People at the Core, Great Food, Delivery Excellence, Lasting Partnerships and Sustainable Choices – The Greencore Way describes both who we are and how we will succeed.

Greencore is the UK’s leading convenience food manufacturer. We bring industry-leading innovation to create high-quality, fresh and convenient food to customers and consumers.

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