Greencore Group (LON:GNC) Trading Down 9% – Should You Sell?

Greencore Group plc (LON:GNC) shares traded down 9% during mid-day trading on Thursday . The company traded as low as GBX 213.20 and last traded at GBX 218. 13,058,502 shares were traded during trading, an increase of 80% from the average session volume of 7,258,437 shares. The stock had previously closed at GBX 239.60.

Key Headlines Impacting Greencore Group

Here are the key news stories impacting Greencore Group this week:

• Positive Sentiment: Chair Leslie Van de Walle bought 6,000 shares, adding to an earlier purchase of 30,000 shares, which signals insider confidence in Greencore’s outlook. Greencore insider purchase details
• Positive Sentiment: Executive director Dalton Philips also bought 35,700 shares, reinforcing the message that senior management sees value in the stock at current levels. Dalton Philips share purchase article
• Positive Sentiment: Deutsche Bank reaffirmed a buy rating and raised its price target to GBX 325, suggesting meaningful upside from recent trading levels. Deutsche Bank rating update
• Neutral Sentiment: Jefferies reiterated a hold rating with a GBX 185 target, indicating some analysts still see limited near-term upside. Jefferies rating update
• Neutral Sentiment: Recent coverage noted a profit jump tied to Bakkavor integration and UK expansion, but also highlighted costs associated with the buyout, leaving the market focused on how quickly those benefits translate into earnings. Profit jump and Bakkavor integration article

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 351 price target on shares of Greencore Group in a research report on Friday, May 15th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 185 price target on shares of Greencore Group in a research report on Thursday. Shore Capital Group reiterated a “house stock” rating on shares of Greencore Group in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 325 price target on shares of Greencore Group in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 290.25.

Greencore Group Stock Down 3.6%

The company has a debt-to-equity ratio of 80.03, a current ratio of 0.74 and a quick ratio of 0.62. The stock has a market capitalization of £1.61 billion, a PE ratio of 16.11, a PEG ratio of 0.10 and a beta of 1.18. The company has a 50 day moving average price of GBX 241.93 and a 200-day moving average price of GBX 252.21.

Insiders Place Their Bets

In other news, insider Alastair S. N. Murray acquired 25,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of GBX 205 per share, for a total transaction of £51,250. Also, insider Leslie Van de Walle purchased 30,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were acquired at an average cost of GBX 227 per share, for a total transaction of £68,100. Over the last 90 days, insiders bought 96,700 shares of company stock worth $20,501,800. 1.10% of the stock is owned by corporate insiders.

Greencore Group Company Profile

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.