C&C Group (LON:CCR) Stock Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• C&C Group shares moved above their 50‑day moving average (50‑day MA = GBX 112), trading as high as GBX 117.40 and last at GBX 117.20 on ~24.47M shares, though they remain below the 200‑day MA of GBX 125.80.
• Analysts have a Moderate Buy consensus with a price target of GBX 130; Shore Capital reiterated a "buy" while RBC cut its target from GBX 160 to GBX 130 and set a "sector perform" rating.
• Insider Vineet Bhalla bought 6,000 shares at GBX 115 on Feb 6, and insiders collectively own 5.16% of the company.

Shares of C&C Group plc (LON:CCR - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 112 and traded as high as GBX 117.40. C&C Group shares last traded at GBX 117.20, with a volume of 24,473,988 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Shore Capital Group reissued a "buy" rating on shares of C&C Group in a report on Thursday, February 5th. Royal Bank Of Canada decreased their price target on shares of C&C Group from GBX 160 to GBX 130 and set a "sector perform" rating for the company in a report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 130.

C&C Group Stock Up 0.9%

The company has a market cap of £431.80 million, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 5.61 and a beta of 0.60. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 68.14. The firm's fifty day moving average price is GBX 112 and its 200-day moving average price is GBX 125.80.

Insiders Place Their Bets

In related news, insider Vineet Bhalla bought 6,000 shares of C&C Group stock in a transaction that occurred on Friday, February 6th. The stock was 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.