Berenberg Bank Upgrades Cranswick (LON:CWK) to "Buy"

Key Points

• Berenberg Bank upgraded Cranswick to “Buy” and raised its price target to GBX 6,080 from GBX 5,770, implying 17.83% upside from the current share price.
• Analyst sentiment is broadly positive: Cranswick has an average “Buy” rating and a consensus price target of GBX 6,036, with several firms setting targets above GBX 6,000.
• Cranswick shares were trading up 1.2% at GBX 5,160, giving the company a market capitalization of approximately £2.76 billion.

Cranswick (LON:CWK - Get Free Report) was upgraded by equities researchers at Berenberg Bank to a "buy" rating in a report released on Tuesday, Digital Look reports. The brokerage presently has a GBX 6,080 target price on the stock, up from their previous target price of GBX 5,770. Berenberg Bank's target price indicates a potential upside of 17.83% from the company's current price.

A number of other research firms also recently issued reports on CWK. Royal Bank Of Canada raised Cranswick to an "outperform" rating and lifted their target price for the company from GBX 5,500 to GBX 6,100 in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 6,300 price target on shares of Cranswick in a research report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 6,200 price target on shares of Cranswick in a research report on Monday, July 27th. Finally, Shore Capital Group reaffirmed a "house stock" rating on shares of Cranswick in a research report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of GBX 6,036.

Cranswick Trading Up 1.2%

Shares of LON:CWK opened at GBX 5,160 on Tuesday. The company's 50-day moving average price is GBX 5,301.52 and its two-hundred day moving average price is GBX 5,352.90. The company has a debt-to-equity ratio of 23.26, a current ratio of 1.76 and a quick ratio of 1.02. Cranswick has a one year low of GBX 4,805 and a one year high of GBX 5,810. The stock has a market capitalization of £2.76 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.62 and a beta of 0.55.

Insider Transactions at Cranswick

In related news, insider Mark Bottomley sold 361 shares of Cranswick stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of GBX 5,545, for a total transaction of £20,017.45. Also, insider Christopher Aldersley purchased 3 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average price of £5,350 per share, for a total transaction of £16,050. In the last 90 days, insiders have bought 363 shares of company stock valued at $3,600,940. 2.55% of the stock is currently owned by corporate insiders.

Cranswick Company Profile

Cranswick is a leading and innovative supplier of premium, fresh and added-value food products with revenues of c. £3.0 billion. The business employs over 16,000 people and operates from 23 well-invested, highly efficient facilities in the UK. Cranswick was formed in the early 1970s by farmers in East Yorkshire to produce animal feed and has since evolved into a business which produces a range of high-quality, predominantly fresh food, including fresh pork, poultry, convenience, gourmet products and pet food.

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