Greencore Group's (GNC) "Hold" Rating Reiterated at Jefferies Financial Group

Key Points

• Jefferies reiterated a “Hold” rating on Greencore Group and set a GBX 185 price target, implying 31.23% downside from the prior close.
• Despite Jefferies’ cautious view, the broader analyst consensus remains “Moderate Buy,” with an average target price of GBX 301.50; RBC and Berenberg maintain bullish ratings.
• Greencore shares rose 2.6% to GBX 269 in Tuesday trading, while insider Leslie Van de Walle purchased 350,000 shares for approximately £833,000.

Greencore Group (LON:GNC - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Tuesday, Digital Look reports. They presently have a GBX 185 target price on the stock. Jefferies Financial Group's price objective points to a potential downside of 31.23% from the stock's previous close.

Several other brokerages have also commented on GNC. Shore Capital Group reiterated a "house stock" rating on shares of Greencore Group in a research note on Monday, July 20th. Royal Bank Of Canada raised shares of Greencore Group to an "outperform" rating and raised their price objective for the stock from GBX 330 to GBX 345 in a report on Wednesday, July 29th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Greencore Group currently has a consensus rating of "Moderate Buy" and an average target price of GBX 301.50.

Greencore Group Stock Up 2.6%

Shares of LON GNC traded up GBX 6.80 during midday trading on Tuesday, hitting GBX 269. 25,719,465 shares of the company's stock were exchanged, compared to its average volume of 6,940,448. The company has a debt-to-equity ratio of 80.03, a current ratio of 0.74 and a quick ratio of 0.62. Greencore Group has a twelve month low of GBX 191.10 and a twelve month high of GBX 307.50. The company has a market cap of £2.15 billion, a PE ratio of 96.07, a P/E/G ratio of 0.10 and a beta of 0.85. The firm's fifty day simple moving average is GBX 255.83 and its 200-day simple moving average is GBX 236.92.

Insider Activity at Greencore Group

In other news, insider Leslie Van de Walle bought 350,000 shares of the business's stock in a transaction dated Wednesday, July 22nd. The shares were acquired at an average price of GBX 238 per share, for a total transaction of £833,000. Company insiders own 1.19% 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.

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