Greencore Group (LON:GNC) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Greencore Group to “outperform” and raised its price target to GBX 345 from GBX 330, implying 35.72% potential upside.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average target price of GBX 301.50; three analysts rate the stock Buy and one rates it Hold.
• Greencore shares opened at GBX 254.20, while insiders purchased 646,700 shares worth approximately £143.2 million over the past 90 days.

Greencore Group (LON:GNC - Get Free Report) was upgraded by research analysts at Royal Bank Of Canada to an "outperform" rating in a report released on Wednesday,Digital Look reports. The firm currently has a GBX 345 price target on the stock, up from their prior price target of GBX 330. Royal Bank Of Canada's price target suggests a potential upside of 35.72% from the company's current price.

A number of other research analysts also recently issued reports on GNC. Berenberg Bank reiterated a "buy" rating and set a GBX 351 target price on shares of Greencore Group in a research report on Thursday, July 23rd. Jefferies Financial Group restated a "hold" rating and set a GBX 185 price objective on shares of Greencore Group in a report on Thursday, May 28th. Shore Capital Group reaffirmed a "house stock" rating on shares of Greencore Group in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 325 target price on shares of Greencore Group in a report on Thursday, May 28th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Greencore Group currently has a consensus rating of "Moderate Buy" and an average target price of GBX 301.50.

Greencore Group Price Performance

GNC stock opened at GBX 254.20 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 80.03. The firm has a market cap of £2.02 billion, a price-to-earnings ratio of 90.79, a PEG ratio of 0.10 and a beta of 0.81. The company's fifty day simple moving average is GBX 210.48 and its 200 day simple moving average is GBX 241.51. Greencore Group has a 12-month low of GBX 191.10 and a 12-month high of GBX 307.50.

Insider Transactions at Greencore Group

In related news, insider Dalton Philips bought 35,700 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of GBX 204 per share, with a total value of £72,828. Also, insider Leslie Van de Walle purchased 350,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The shares were bought at an average price of GBX 238 per share, with a total value of £833,000. Insiders purchased a total of 646,700 shares of company stock valued at $143,176,800 over the last ninety days. 1.14% of the stock is currently owned by insiders.

About Greencore Group

We are a leading manufacturer of convenience food in the UK and our purpose is to make every day taste better. To help us achieve this we have a model called The Greencore Way, which is built on the differentiators of People at the Core, Great Food, Delivery Excellence, Lasting Partnerships and Sustainable Choices – The Greencore Way describes both who we are and how we will succeed. Greencore is the UK's leading convenience food manufacturer. We bring industry-leading innovation to create high-quality, fresh and convenient food to customers and consumers.

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.