C&C Group (LON:CCR) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• C&C Group shares fell below their 200‑day moving average, trading as low as GBX 121.80 and last at GBX 123.23 versus the 200‑day MA of GBX 124.39, a bearish technical signal.
• Analyst sentiment remains moderately positive with a MarketBeat consensus rating of "Moderate Buy" and a consensus price target of GBX 130, though RBC cut its target from GBX 160 to GBX 130 and Shore Capital reiterated a "Buy".
• Insider buying occurred — director Vineet Bhalla purchased 6,000 shares at GBX 115, and insiders own 5.16% of the company, suggesting some insider confidence despite the pullback.

Shares of C&C Group plc (LON:CCR - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 124.39 and traded as low as GBX 121.80. C&C Group shares last traded at GBX 123.23, with a volume of 319,523 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CCR. Shore Capital Group restated a "buy" rating on shares of C&C Group in a research report on Thursday, February 5th. Royal Bank Of Canada reduced their price objective on C&C Group from GBX 160 to GBX 130 and set a "sector perform" rating on the stock in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of GBX 130.

C&C Group Price Performance

The stock has a market capitalization of £452.32 million, a price-to-earnings ratio of 22.33, a P/E/G ratio of 5.61 and a beta of 0.57. The company has a fifty day simple moving average of GBX 114.63 and a 200 day simple moving average of GBX 124.39. The company has a debt-to-equity ratio of 68.14, a quick ratio of 0.80 and a current ratio of 1.11.

Insider Buying and Selling

In related news, insider Vineet Bhalla bought 6,000 shares of the business's stock in a transaction on Friday, February 6th. The shares were purchased at an average cost of GBX 115 per share, with a total value of £6,900. Insiders own 5.16% of the company's stock.

About C&C Group

C&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland. C&C Group's portfolio of owned/exclusive brands include Bulmers, the leading Irish cider brand and Tennent's, the leading Scottish beer brand; as well as a range of fast-growing, premium and craft ciders and beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its Magners and Tennent's brands to over 40 countries worldwide. C&C Group has owned brand and contract manufacturing/packing operations in CoTipperary, Ireland and Glasgow, Scotland. C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors.

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