Greencore Group (LON:GNC) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Greencore Group shares rose above their 200-day moving average, reaching GBX 267.20 and closing at GBX 266.20, compared with a 200-day average of GBX 241.02.
• Analyst sentiment is broadly positive: three analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 301.50.
• Insiders have been buying shares, including significant purchases by Leslie Van de Walle and Dalton Philips; insiders acquired 646,700 shares over the past 90 days.

Greencore Group plc (LON:GNC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 241.02 and traded as high as GBX 267.20. Greencore Group shares last traded at GBX 266.20, with a volume of 1,700,456 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 325 price objective on shares of Greencore Group in a report on Thursday, May 28th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 351 target price on shares of Greencore Group in a report on Thursday, July 23rd. Shore Capital Group reiterated a "house stock" rating on shares of Greencore Group in a research report on Monday, July 20th. Royal Bank Of Canada upgraded Greencore Group to an "outperform" rating and boosted their price target for the company from GBX 330 to GBX 345 in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a "hold" rating and set a GBX 185 price target on shares of Greencore Group in a research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 301.50.

Greencore Group Trading Up 1.0%

The company has a market cap of £2.11 billion, a price-to-earnings ratio of 95.07, a P/E/G ratio of 0.10 and a beta of 0.84. The company has a debt-to-equity ratio of 80.03, a current ratio of 0.74 and a quick ratio of 0.62. The firm's fifty day moving average price is GBX 229.08 and its 200-day moving average price is GBX 241.02.

Insider Activity at Greencore Group

In other news, insider Dalton Philips acquired 35,700 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of GBX 204 per share, for a total transaction of £72,828. Also, insider Leslie Van de Walle bought 350,000 shares of Greencore Group stock in a transaction on Wednesday, July 22nd. The shares were purchased at an average cost of GBX 238 per share, with a total value of £833,000. Insiders have bought a total of 646,700 shares of company stock worth $143,176,800 in the last ninety days. 1.19% of the stock is 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.

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