Greencore Group (LON:GNC) Shares Cross Above 200 Day Moving Average – Time to Sell?

by · The Markets Daily

Greencore Group plc (LON:GNC – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 241.62 and traded as high as GBX 267. Greencore Group shares last traded at GBX 263.60, with a volume of 1,161,970 shares.

Analyst Ratings Changes

A number of research firms have weighed in on GNC. Berenberg Bank reaffirmed a “buy” rating and set a GBX 351 price objective on shares of Greencore Group in a report on Thursday, July 23rd. Royal Bank Of Canada raised Greencore Group to an “outperform” rating and increased their target price for the stock from GBX 330 to GBX 345 in a report on Wednesday, July 29th. Shore Capital Group restated a “house stock” rating on shares of Greencore Group in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 325 price target on shares of Greencore Group in a research note 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 note on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 301.50.

Check Out Our Latest Report on Greencore Group

Greencore Group Stock Performance

The stock has a market capitalization of £2.10 billion, a price-to-earnings ratio of 94.43, a price-to-earnings-growth ratio of 0.10 and a beta of 0.84. 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 stock’s 50-day simple moving average is GBX 222.65 and its 200 day simple moving average is GBX 241.78.

Insider Activity

In other Greencore Group news, insider Alastair S. N. Murray purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of GBX 205 per share, for a total transaction of £51,250. Also, insider Leslie Van de Walle purchased 350,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were acquired at an average cost of GBX 238 per share, with a total value of £833,000. Over the last 90 days, insiders bought 646,700 shares of company stock worth $143,176,800. Insiders own 1.19% of the company’s stock.

Greencore Group Company Profile

(Get Free Report)

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.

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