C&C Group (LON:CCR) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• C&C Group shares fell below their 200‑day moving average, trading as low as GBX 114.60 and last at GBX 119 on volume of 7,436,946, versus a 200‑day MA of GBX 123.83.
• Analyst sentiment is modestly positive with a consensus of "Moderate Buy" and an average target price of GBX 130; one analyst rates the stock Buy and one rates it Hold, while RBC trimmed its target from GBX 160 to GBX 130 and Shore Capital reaffirmed Buy.
• An insider, Vineet Bhalla, purchased 6,000 shares at GBX 115 on Feb 6, and corporate insiders own about 5.16% of the company, indicating insider buying despite recent weakness.

Shares of C&C Group plc (LON:CCR - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 123.83 and traded as low as GBX 114.60. C&C Group shares last traded at GBX 119, with a volume of 7,436,946 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Shore Capital Group reissued a "buy" rating on shares of C&C Group in a report on Thursday, February 5th. Royal Bank Of Canada lowered their price objective on C&C Group from GBX 160 to GBX 130 and set a "sector perform" rating on the stock in a report on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of GBX 130.

C&C Group Stock Performance

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 has a market cap of £438.32 million, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 5.61 and a beta of 0.57. The stock has a fifty day moving average price of GBX 114.93 and a 200 day moving average price of GBX 123.83.

Insider Activity at C&C Group

In related news, insider Vineet Bhalla acquired 6,000 shares of the stock in a transaction dated Friday, February 6th. The shares were acquired at an average price of GBX 115 per share, with a total value of £6,900. Corporate 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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