Greencore Group (LON:GNC) Trading Down 9% – Here’s Why

Greencore Group plc (LON:GNC) traded down 9% during 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.

Analyst Ratings Changes

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

Greencore Group Stock Performance

The business has a fifty day simple moving average of GBX 243.80 and a two-hundred day simple moving average of GBX 252.65. The company has a debt-to-equity ratio of 42.22, a current ratio of 0.68 and a quick ratio of 0.62. The company has a market cap of £1.70 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.10 and a beta of 0.84.

Insiders Place Their Bets

In related news, insider Leslie Van de Walle bought 30,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of GBX 227 per share, for a total transaction of £68,100. 1.10% of the stock is currently 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.