C&C Group (LON:CCR) Share Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• C&C Group shares fell below their 200-day moving average, reaching GBX 101 before last trading at GBX 102 on volume of 660,874 shares.
• Shore Capital reaffirmed a “Buy” rating with a GBX 138 price target. Overall, analysts assign the stock a “Moderate Buy” consensus rating and an average target of GBX 134.
• The company has a market capitalization of approximately £381.7 million and owns beverage brands including Bulmers and Tennent’s, while distributing drinks across the UK and Ireland.

C&C Group plc (LON:CCR - Get Free Report) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 105.39 and traded as low as GBX 101. C&C Group shares last traded at GBX 102, with a volume of 660,874 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Shore Capital Group restated a "buy" rating and issued a GBX 138 target price on shares of C&C Group in a research note on Wednesday, September 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, C&C Group presently has an average rating of "Moderate Buy" and an average target price of GBX 134.

C&C Group Stock Performance

The stock has a market cap of £381.70 million, a PE ratio of 115.11, a price-to-earnings-growth ratio of 5.61 and a beta of 0.56. The company has a quick ratio of 0.80, a current ratio of 1.13 and a debt-to-equity ratio of 67.44. The firm has a 50 day moving average price of GBX 98.63 and a 200 day moving average price of GBX 105.39.

About C&C Group

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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