Greencore Group (LON:GNC) Shares Pass Below 200 Day Moving Average – Here’s Why

Greencore Group plc (LON:GNC)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 250.56 and traded as low as GBX 192. Greencore Group shares last traded at GBX 195.19, with a volume of 3,702,370 shares traded.

Analyst Ratings Changes

GNC has been the topic of a number of analyst reports. Shore Capital Group reiterated a “house stock” rating on shares of Greencore Group in a research report on Wednesday, May 27th. Berenberg Bank reiterated a “buy” rating and set a GBX 351 price objective on shares of Greencore Group in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 325 price objective on shares of Greencore Group in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 185 price objective on shares of Greencore Group in a research report on Thursday, May 28th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 290.25.

Greencore Group Price Performance

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 company has a market cap of £1.60 billion, a PE ratio of 71.86, a P/E/G ratio of 0.10 and a beta of 0.84. The stock has a 50-day simple moving average of GBX 233.08 and a 200 day simple moving average of GBX 250.08.

Insider Buying and Selling at Greencore Group

In other Greencore Group news, insider Alastair S. N. Murray bought 25,000 shares of Greencore Group stock in a transaction on Friday, May 29th. The shares were bought at an average price of GBX 205 per share, for a total transaction of £51,250. Also, insider Leslie Van de Walle bought 125,000 shares of Greencore Group stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of GBX 195 per share, for a total transaction of £243,750. Insiders have acquired 296,700 shares of company stock worth $59,876,800 over the last quarter. 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.