ProCook Group (LON:PROC) Trading Up 4.3% - Time to Buy?

Key Points

• ProCook shares rose 4.3% to GBX 49 in mid-day trading, although only 787 shares changed hands—98% below the average session volume.
• Canaccord Genuity reaffirmed a “Buy” rating and set a GBX 62 price target, implying potential upside from the current price.
• The company reported quarterly earnings of GBX 1.45 per share, but its balance sheet shows elevated leverage, including a debt-to-equity ratio of 260.98; insider Daniel O’Neill also sold 27.35 million shares for approximately £13.95 million.

ProCook Group plc (LON:PROC - Get Free Report) shares were up 4.3% during mid-day trading on Wednesday . The stock traded as high as GBX 49 and last traded at GBX 49. Approximately 787 shares were traded during mid-day trading, a decline of 98% from the average session volume of 41,390 shares. The stock had previously closed at GBX 47.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 62 price objective on shares of ProCook Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of GBX 62.

ProCook Group Stock Performance

The company has a debt-to-equity ratio of 260.98, a quick ratio of 0.36 and a current ratio of 0.86. The firm has a market cap of £52.48 million, a P/E ratio of 37.12 and a beta of 0.73. The company's 50 day moving average is GBX 50.46 and its 200 day moving average is GBX 40.37.

ProCook Group (LON:PROC - Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported GBX 1.45 earnings per share for the quarter. The firm had revenue of GBX 8,549 million for the quarter. ProCook Group had a net margin of 1.85% and a return on equity of 16.45%. As a group, equities analysts predict that ProCook Group plc will post 1.6107383 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniel O’Neill sold 27,348,120 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of GBX 51, for a total transaction of £13,947,541.20. 37.48% of the stock is owned by corporate insiders.

About ProCook Group

ProCook is the UK's leading direct-to-consumer specialist kitchenware brand. ProCook designs, develops, and retails a high-quality range of direct-sourced and own-brand kitchenware which provides customers with significant value for money. The brand sells directly through its website, www.procook.co.uk, and through over 70 own-brand retail stores, located across the UK. Founded 30 years ago as a family business, selling cookware sets by direct mail in the UK, ProCook has grown into a market leading, multi-channel specialist kitchenware company, employing over 700 colleagues, and operating from its Store Support Centre in Gloucester. As a B Corp, a Real Living Wage employer and a certified Great Place to Work™, ProCook is committed to being a socially responsible and environmentally conscious business for the benefit of all stakeholders.

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.