Greencore Group (LON:GNC) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Greencore Group plc (LON:GNC)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 249.17 and traded as low as GBX 196.50. Greencore Group shares last traded at GBX 199, with a volume of 4,028,988 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a GBX 185 price target on shares of Greencore Group in a research note on Thursday, May 28th. Shore Capital Group reissued a “house stock” rating on shares of Greencore Group in a research note on Wednesday, May 27th. Berenberg Bank reissued a “buy” rating and issued a GBX 351 price target on shares of Greencore Group in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 325 price target on shares of Greencore Group in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Greencore Group presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 290.25.

Greencore Group Stock Performance

The stock has a market capitalization of £1.58 billion, a price-to-earnings ratio of 71.07, a price-to-earnings-growth ratio of 0.10 and a beta of 0.83. 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 firm’s fifty day moving average price is GBX 229.81 and its 200 day moving average price is GBX 249.17.

Insiders Place Their Bets

In other Greencore Group news, insider Alastair S. N. Murray bought 25,000 shares of Greencore Group stock in a transaction on Friday, May 29th. The shares were bought at an average cost of GBX 205 per share, for a total transaction of £51,250. Also, insider Leslie Van de Walle bought 125,000 shares of Greencore Group stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of GBX 195 per share, for a total transaction of £243,750. Insiders have acquired a total of 296,700 shares of company stock worth $59,876,800 in the last ninety days. 1.12% of the stock is owned by corporate insiders.

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.