C&C Group (LON:CCR) Shares Down 9.3% – Here’s Why

C&C Group plc (LON:CCR)’s stock price was down 9.3% during mid-day trading on Saturday . The stock traded as low as GBX 105.20 and last traded at GBX 116.65. Approximately 2,543,067 shares changed hands during mid-day trading, an increase of 237% from the average daily volume of 754,543 shares. The stock had previously closed at GBX 128.60.

More C&C Group News

Here are the key news stories impacting C&C Group this week:

• Positive Sentiment: Concise headline-level summary of each item that could drive the stock up, with a one-line rationale and a link to the source.
• Neutral Sentiment: Operational/company updates or macro items that are uncertain or mixed in impact.
• Negative Sentiment: News likely to pressure the stock, with a short explanation and source link.

Analysts Set New Price Targets

Separately, Shore Capital reissued a “buy” rating on shares of C&C Group in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

C&C Group Trading Down 9.3%

The firm has a fifty day moving average of GBX 130.26 and a 200-day moving average of GBX 147.91. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16. The stock has a market capitalization of £429.65 million, a price-to-earnings ratio of 21.21, a P/E/G ratio of 5.61 and a beta of 1.26.

C&C Group Company Profile

C&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland.

C&C Group’s portfolio of owned/exclusive brands include Bulmers, the leading Irish cider brand and Tennent’s, the leading Scottish beer brand; as well as a range of fast-growing, premium and craft ciders and beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its Magners and Tennent’s brands to over 40 countries worldwide.

C&C Group has owned brand and contract manufacturing/packing operations in CoTipperary, Ireland and Glasgow, Scotland.

C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors.