Greencore Group (LON:GNC) Stock Price Up 8.5% – Here’s What Happened

Greencore Group plc (LON:GNC)’s share price was up 8.5% during trading on Wednesday . The company traded as high as GBX 250.86 and last traded at GBX 240.60. 9,445,377 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 7,961,544 shares. The stock had previously closed at GBX 221.80.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GNC. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 325 price target on shares of Greencore Group in a research report on Thursday, May 28th. Berenberg Bank restated a “buy” rating and issued a GBX 351 target price on shares of Greencore Group in a report on Thursday, June 11th. Jefferies Financial Group reiterated 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 reaffirmed a “house stock” rating on shares of Greencore Group in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Greencore Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 290.25.

Greencore Group Trading Up 8.5%

The company has a debt-to-equity ratio of 80.03, a current ratio of 0.74 and a quick ratio of 0.62. The firm has a fifty day simple moving average of GBX 209.14 and a 200-day simple moving average of GBX 241.52. The firm has a market cap of £1.91 billion, a P/E ratio of 85.93, a price-to-earnings-growth ratio of 0.10 and a beta of 0.81.

Insiders Place Their Bets

In other Greencore Group news, insider Alastair S. N. Murray bought 25,000 shares of the stock in a transaction that occurred 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 Dalton Philips acquired 35,700 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of GBX 204 per share, with a total value of £72,828. Over the last 90 days, insiders have acquired 296,700 shares of company stock worth $59,876,800. Insiders own 1.14% of the company’s stock.

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.