Greencore Group (LON:GNC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Greencore Group plc (LON:GNC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 241.98 and traded as high as GBX 264.60. Greencore Group shares last traded at GBX 260.95, with a volume of 9,351,493 shares.

Analyst Upgrades and Downgrades

GNC has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a GBX 185 price objective on shares of Greencore Group in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 325 price target on shares of Greencore Group in a report on Thursday, May 28th. Shore Capital Group restated a “house stock” rating on shares of Greencore Group in a research note on Monday, July 20th. Royal Bank Of Canada upgraded Greencore Group to an “outperform” rating and raised their price objective for the company from GBX 330 to GBX 345 in a research note on Wednesday, July 29th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 301.50.

Greencore Group Trading Up 1.1%

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 stock has a market capitalization of £2.09 billion, a PE ratio of 94.07, a PEG ratio of 0.10 and a beta of 0.84. The stock’s 50 day simple moving average is GBX 215.67 and its two-hundred day simple moving average is GBX 242.04.

Insider Buying and Selling

In other news, insider Dalton Philips acquired 35,700 shares of Greencore Group stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of GBX 204 per share, with a total value of £72,828. Also, insider Alastair S. N. Murray bought 25,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of GBX 205 per share, with a total value of £51,250. In the last quarter, insiders have purchased 646,700 shares of company stock valued at $143,176,800. 1.19% 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.