Greencore Group (LON:GNC) Hits New 52-Week Low – What’s Next?

Greencore Group plc (LON:GNC)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as GBX 191.10 and last traded at GBX 195.60, with a volume of 720018250 shares changing hands. The stock had previously closed at GBX 203.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Berenberg Bank reissued a “buy” rating and set a GBX 351 target price on shares of Greencore Group in a research note on Friday, May 15th. Shore Capital Group reissued a “house stock” rating on shares of Greencore Group in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a “hold” rating and set a GBX 185 target price on shares of Greencore Group in a research note on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 325 target price 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 an average rating of “Moderate Buy” and a consensus price target of GBX 290.25.

Greencore Group Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 80.03. The company’s 50-day moving average price is GBX 238.81 and its two-hundred day moving average price is GBX 251.59. The company has a market cap of £1.54 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 0.10 and a beta of 0.84.

Insiders Place Their Bets

In other news, insider Leslie Van de Walle bought 75,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of GBX 200 per share, with a total value of £150,000. Also, insider Alastair S. N. Murray bought 25,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of GBX 205 per share, for a total transaction of £51,250. Insiders bought a total of 171,700 shares of company stock worth $35,501,800 over the last ninety days. 1.10% of the stock is currently 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.