Greencore Group (LON:GNC) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Greencore Group plc (LON:GNC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 241.02 and traded as high as GBX 267.20. Greencore Group shares last traded at GBX 266.20, with a volume of 1,700,456 shares trading hands.

Analyst Upgrades and Downgrades

GNC has been the subject of several research analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 351 price objective on shares of Greencore Group in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 325 target price on shares of Greencore Group in a report on Thursday, May 28th. Shore Capital Group reiterated a “house stock” rating on shares of Greencore Group in a research note on Monday, July 20th. Jefferies Financial Group reissued a “hold” rating and set a GBX 185 price target on shares of Greencore Group in a report on Thursday, May 28th. Finally, Royal Bank Of Canada upgraded Greencore Group to an “outperform” rating and upped their price objective for the stock from GBX 330 to GBX 345 in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Greencore Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 301.50.

Greencore Group Stock Up 1.0%

The firm’s fifty day moving average price is GBX 229.08 and its 200-day moving average price is GBX 241.02. The company has a market capitalization of £2.11 billion, a price-to-earnings ratio of 95.07, a P/E/G ratio of 0.10 and a beta of 0.84. The company has a debt-to-equity ratio of 80.03, a current ratio of 0.74 and a quick ratio of 0.62.

Insider Buying and Selling

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