Greencore Group (LON:GNC) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Greencore Group shares rose above their 200-day moving average, reaching GBX 267 and last trading at GBX 263.60, compared with the 200-day average of GBX 241.62.
• Analyst sentiment is broadly positive: the stock has an average “Moderate Buy” rating and a consensus price target of GBX 301.50, with targets ranging from GBX 185 to GBX 351.
• Insiders have been buying shares, acquiring 646,700 shares worth approximately £143.2 million over the past 90 days; corporate insiders own 1.19% of the company.

Greencore Group plc (LON:GNC - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 241.62 and traded as high as GBX 267. Greencore Group shares last traded at GBX 263.60, with a volume of 1,161,970 shares.

Wall Street Analysts Forecast Growth

GNC has been the subject of several recent research reports. Royal Bank Of Canada upgraded Greencore Group to an "outperform" rating and lifted their price target for the company from GBX 330 to GBX 345 in a research report on Wednesday, July 29th. Shore Capital Group restated a "house stock" rating on shares of Greencore Group in a research report on Monday, July 20th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 351 price objective on shares of Greencore Group in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 325 price objective on shares of Greencore Group in a research note on Thursday, May 28th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 185 target price on shares of Greencore Group in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 301.50.

Greencore Group Price Performance

The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 80.03. The stock has a market capitalization of £2.09 billion, a price-to-earnings ratio of 94.14, a PEG ratio of 0.10 and a beta of 0.84. The stock has a 50-day moving average price of GBX 221.20 and a 200 day moving average price of GBX 241.62.

Insiders Place Their Bets

In other Greencore Group news, insider Alastair S. N. Murray purchased 25,000 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average price of GBX 205 per share, for a total transaction of £51,250. Also, insider Dalton Philips acquired 35,700 shares of the company's stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of GBX 204 per share, for a total transaction of £72,828. Over the last 90 days, insiders have acquired 646,700 shares of company stock worth $143,176,800. 1.19% of the stock is owned by corporate 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.

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