Cranswick (LON:CWK) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Cranswick plc (LON:CWK)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 5,309.26 and traded as low as GBX 5,270. Cranswick shares last traded at GBX 5,270, with a volume of 323,411 shares.

Analysts Set New Price Targets

A number of brokerages have commented on CWK. Peel Hunt raised Cranswick to a “buy” rating and set a GBX 6,600 target price for the company in a report on Monday, October 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 6,200 target price on shares of Cranswick in a research report on Monday, July 27th. Shore Capital Group reaffirmed a “house stock” rating on shares of Cranswick in a research note on Friday, August 14th. Berenberg Bank upgraded Cranswick to a “buy” rating and boosted their price target for the stock from GBX 5,770 to GBX 6,080 in a research report on Tuesday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 6,300 price objective on shares of Cranswick in a research note on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 6,256.

Cranswick Stock Performance

The company has a market cap of £2.93 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.62 and a beta of 0.56. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 23.26. The stock’s fifty day simple moving average is GBX 5,174.21 and its 200 day simple moving average is GBX 5,313.08.

Insider Activity

In related news, insider Christopher Aldersley purchased 3 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of £5,350 per share, with a total value of £16,050. Insiders purchased 9 shares of company stock valued at $1,635,927 in the last ninety days. 2.55% of the stock is owned by corporate insiders.

About Cranswick

Cranswick is a leading and innovative supplier of premium, fresh and added-value food products with revenues of c. £3.0 billion. The business employs over 16,000 people and operates from 23 well-invested, highly efficient facilities in the UK. Cranswick was formed in the early 1970s by farmers in East Yorkshire to produce animal feed and has since evolved into a business which produces a range of high-quality, predominantly fresh food, including fresh pork, poultry, convenience, gourmet products and pet food.