Greencore Group (LON:GNC) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Greencore Group plc (LON:GNC) shares 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 traded.

Analyst Ratings Changes

GNC has been the topic of several research reports. Shore Capital Group reissued a “house stock” rating on shares of Greencore Group in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 325 target price on shares of Greencore Group in a research report on Thursday, May 28th. Berenberg Bank reissued a “buy” rating and set a GBX 351 price target on shares of Greencore Group in a research report on Thursday, June 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 185 price target on shares of Greencore Group in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Greencore Group currently has an average rating of “Moderate Buy” and an average target price of GBX 290.25.

Greencore Group Stock Down 1.7%

The firm has a market cap of £1.55 billion, a PE ratio of 69.82, a price-to-earnings-growth ratio of 0.10 and a beta of 0.83. 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 business has a 50-day moving average price of GBX 229 and a two-hundred day moving average price of GBX 248.88.

Insiders Place Their Bets

In related news, insider Alastair S. N. Murray acquired 25,000 shares of the firm’s stock in a transaction dated 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 Dalton Philips acquired 35,700 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of GBX 204 per share, with a total value of £72,828. Insiders have purchased a total of 296,700 shares of company stock worth $59,876,800 in the last quarter. 1.12% of the stock is 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.