Coca-Cola HBC (LON:CCH) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Coca-Cola HBC AG shares have dropped below their 200-day moving average, with the stock trading as low as GBX 3,386 ($45.10) against a moving average of GBX 3,774.14 ($50.27).
• Despite the recent dip, several analysts, including Berenberg Bank and Deutsche Bank, maintain a “buy” rating on Coca-Cola HBC with target prices ranging from GBX 4,068 to GBX 4,400.
• Insider buying activity has been noted, with Zoran Bogdanovic purchasing 150 shares at GBX 3,603, indicating strong confidence among executives in the company.

Shares of Coca-Cola HBC AG (LON:CCH - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 3,774.14 ($50.27) and traded as low as GBX 3,386 ($45.10). Coca-Cola HBC shares last traded at GBX 3,411.53 ($45.44), with a volume of 77,634,164 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCH. Berenberg Bank reiterated a "buy" rating and set a GBX 4,068 target price on shares of Coca-Cola HBC in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola HBC from GBX 3,950 to GBX 4,300 and gave the company a "buy" rating in a research report on Thursday, August 7th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 4,400 target price on shares of Coca-Cola HBC in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Coca-Cola HBC in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of GBX 4,104.50.

Coca-Cola HBC Stock Performance

The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 137.31. The business has a 50 day simple moving average of GBX 3,665.09 and a two-hundred day simple moving average of GBX 3,774.14. The firm has a market cap of £12.37 billion, a PE ratio of 1,355.38, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94.

Insiders Place Their Bets

In other news, insider Zoran Bogdanovic purchased 150 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were acquired at an average price of GBX 3,603 per share, with a total value of £5,404.50. 99.20% of the stock is currently owned by insiders.

Coca-Cola HBC Company Profile

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We open up moments that refresh us all, by creating value for our stakeholders and supporting the socio-economic development of the communities in which we operate. With a vision to be the leading 24/7 beverage partner, we offer drinks for all occasions around the clock and work together with our customers to serve 750 million consumers across a broad geographic footprint of 29 countries.

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