Greencore Group (LON:GNC) Shares Down 1.3% – Here’s Why

Greencore Group plc (LON:GNC) shares traded down 1.3% during trading on Wednesday. The stock traded as low as GBX 295.80 and last traded at GBX 297.80. 1,833,662 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 7,243,428 shares. The stock had previously closed at GBX 301.80.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Berenberg Bank upped their price target on Greencore Group from GBX 351 to GBX 384 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Jefferies Financial Group restated a “hold” rating and set a GBX 185 target price on shares of Greencore Group in a research report on Tuesday, October 13th. Royal Bank Of Canada raised shares of Greencore Group to an “outperform” rating and upped their price objective for the stock from GBX 330 to GBX 345 in a research note on Wednesday, July 29th. Finally, Shore Capital Group reaffirmed a “house stock” rating on shares of Greencore Group in a report on Monday, July 20th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 309.75.

Greencore Group Stock Performance

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 company has a market cap of £2.39 billion, a price-to-earnings ratio of 106.36, a price-to-earnings-growth ratio of 0.10 and a beta of 0.85. The stock has a 50-day moving average price of GBX 267.11 and a 200 day moving average price of GBX 249.74.

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.