C&C Group (LON:CCR) Stock Price Passes Above 50-Day Moving Average - Here's Why

Key Points

• C&C Group shares climbed above their 50-day moving average (GBX 113.64), trading as high as GBX 125.47 and last at GBX 122.59 on a volume of 806,007, roughly a 1% gain.
• Analysts hold a consensus of "Moderate Buy" with an average price target of GBX 130; Shore Capital reaffirmed a Buy while RBC cut its target from GBX 160 to GBX 130 and rates the stock "sector perform".
• Insider Vineet Bhalla bought 6,000 shares at GBX 115 on Feb 6, and company insiders now own about 5.16% of the stock.

C&C Group plc (LON:CCR - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 113.64 and traded as high as GBX 125.47. C&C Group shares last traded at GBX 122.59, with a volume of 806,007 shares traded.

Wall Street Analysts Forecast Growth

CCR has been the subject of several recent analyst reports. Shore Capital Group reaffirmed a "buy" rating on shares of C&C Group in a research report on Thursday, February 5th. Royal Bank Of Canada lowered their price target on C&C Group from GBX 160 to GBX 130 and set a "sector perform" rating for the company in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 130.

C&C Group Trading Up 1.0%

The stock has a 50-day simple moving average of GBX 113.64 and a two-hundred day simple moving average of GBX 124.84. The company has a debt-to-equity ratio of 68.14, a quick ratio of 0.80 and a current ratio of 1.11. The firm has a market cap of £455.26 million, a PE ratio of 22.47, a price-to-earnings-growth ratio of 5.61 and a beta of 0.57.

Insiders Place Their Bets

In other C&C Group news, insider Vineet Bhalla bought 6,000 shares of the firm's stock in a transaction on Friday, February 6th. The stock was acquired at an average price of GBX 115 per share, with a total value of £6,900. Company insiders own 5.16% of the company's stock.

C&C Group Company Profile

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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