Greencore Group (LON:GNC) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Greencore Group plc (LON:GNC)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on GNC. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 325 price objective on shares of Greencore Group in a research report on Thursday, May 28th. Berenberg Bank reissued a “buy” rating and issued a GBX 351 target price on shares of Greencore Group in a research note on Friday, May 15th. Jefferies Financial Group restated a “hold” rating and set a GBX 185 price target on shares of Greencore Group in a report on Thursday, May 28th. Finally, Shore Capital Group reiterated a “house stock” rating on shares of Greencore Group in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Greencore Group presently has an average rating of “Moderate Buy” and a consensus target price of GBX 290.25.

Greencore Group Trading Up 1.3%

The company has a debt-to-equity ratio of 80.03, a quick ratio of 0.62 and a current ratio of 0.74. The firm has a market capitalization of £1.56 billion, a PE ratio of 70.33, a P/E/G ratio of 0.10 and a beta of 0.84. The stock’s 50-day simple moving average is GBX 234.85 and its 200-day simple moving average is GBX 250.56.

Insider Activity at Greencore Group

In related news, insider Leslie Van de Walle purchased 75,000 shares of Greencore Group stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of GBX 200 per share, for a total transaction of £150,000. Also, insider Dalton Philips purchased 35,700 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of GBX 204 per share, with a total value of £72,828. Insiders have purchased 171,700 shares of company stock worth $35,501,800 over the last 90 days. 1.12% of the stock is owned by company insiders.

About Greencore Group

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.