Greencore Group (LON:GNC) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Greencore Group plc (LON:GNC) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 247.12 and traded as low as GBX 197.09. Greencore Group shares last traded at GBX 199.70, with a volume of 1,431,679 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on GNC. Berenberg Bank reaffirmed a “buy” rating and set a GBX 351 target price on shares of Greencore Group in a report on Thursday, June 11th. Shore Capital Group restated a “house stock” rating on shares of Greencore Group in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 325 target price on shares of Greencore Group in a research note on Thursday, May 28th. Finally, Jefferies Financial Group restated a “hold” rating and issued a GBX 185 price target on shares of Greencore Group in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 290.25.

Greencore Group Trading Up 3.6%

The stock has a market capitalization of £1.64 billion, a price-to-earnings ratio of 73.86, a PEG ratio of 0.10 and a beta of 0.83. The company’s 50-day moving average is GBX 223.08 and its 200-day moving average is GBX 246.84. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 80.03.

Insider Activity

In other news, insider Dalton Philips purchased 35,700 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of GBX 204 per share, with a total value of £72,828. Also, insider Leslie Van de Walle purchased 125,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of GBX 195 per share, with a total value of £243,750. Insiders bought a total of 296,700 shares of company stock valued at $59,876,800 in the last 90 days. Company insiders own 1.12% of the company’s stock.

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.