Greencore Group (LON:GNC) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Shares of Greencore Group plc (LON:GNC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 247.12 and traded as low as GBX 197.09. Greencore Group shares last traded at GBX 199.70, with a volume of 1,431,679 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GNC shares. Berenberg Bank reiterated a “buy” rating and set a GBX 351 price target on shares of Greencore Group in a research report on Thursday, June 11th. Shore Capital Group reaffirmed a “house stock” rating on shares of Greencore Group in a research report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 185 price objective on shares of Greencore Group in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 325 target price on shares of Greencore Group in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Greencore Group presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 290.25.

Greencore Group Price Performance

The business has a fifty day moving average of GBX 223.91 and a 200 day moving average of GBX 247.12. The company has a market capitalization of £1.58 billion, a PE ratio of 71.32, a PEG ratio of 0.10 and a beta of 0.83. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 80.03.

Insider Activity

In other Greencore Group news, insider Dalton Philips bought 35,700 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of GBX 204 per share, with a total value of £72,828. Also, insider Alastair S. N. Murray bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of GBX 205 per share, for a total transaction of £51,250. Over the last quarter, insiders acquired 296,700 shares of company stock valued at $59,876,800. 1.12% of the stock is currently owned by company 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.