Greencore Group (LON:GNC) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Greencore Group plc (LON:GNC)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 249.17 and traded as low as GBX 196.50. Greencore Group shares last traded at GBX 199, with a volume of 4,028,988 shares.

Analysts Set New Price Targets

Several research analysts recently weighed in on GNC shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 351 target price on shares of Greencore Group in a report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 185 target price on shares of Greencore Group in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 325 target price on shares of Greencore Group in a report on Thursday, May 28th. Finally, Shore Capital Group reaffirmed a “house stock” rating on shares of Greencore Group in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Greencore Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 290.25.

Greencore Group Price Performance

The company has a market capitalization of £1.58 billion, a PE ratio of 71.07, a price-to-earnings-growth 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. The stock’s 50-day moving average is GBX 229.81 and its two-hundred day moving average is GBX 249.17.

Insider Activity at Greencore Group

In other Greencore Group news, insider Leslie Van de Walle acquired 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of GBX 195 per share, with a total value of £243,750. Also, insider Alastair S. N. Murray purchased 25,000 shares of Greencore Group stock in a transaction dated Friday, May 29th. The shares were bought at an average price of GBX 205 per share, for a total transaction of £51,250. In the last quarter, insiders acquired 296,700 shares of company stock valued at $59,876,800. Corporate insiders own 1.12% of the company’s stock.

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.