Greencore Group (LON:GNC) Stock Price Up 8.5% – Here’s Why

Greencore Group plc (LON:GNC)’s share price rose 8.5% during trading on Wednesday . The stock traded as high as GBX 250.86 and last traded at GBX 240.60. 9,445,377 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 7,961,544 shares. The stock had previously closed at GBX 221.80.

Analysts Set New Price Targets

Several research firms have recently weighed in on GNC. Shore Capital Group reissued a “house stock” rating on shares of Greencore Group in a research note on Monday. Berenberg Bank reissued a “buy” rating and issued a GBX 351 price objective on shares of Greencore Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 325 target price on shares of Greencore Group in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 185 price objective on shares of Greencore Group in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 290.25.

Greencore Group Trading Up 0.9%

The company has a market capitalization of £1.95 billion, a PE ratio of 87.73, a price-to-earnings-growth ratio of 0.10 and a beta of 0.81. 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 company’s fifty day moving average is GBX 209.52 and its 200-day moving average is GBX 241.39.

Insider Buying and Selling

In related news, insider Alastair S. N. Murray acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of GBX 205 per share, with a total value of £51,250. Also, insider Leslie Van de Walle bought 350,000 shares of Greencore Group stock in a transaction on Wednesday, July 22nd. The stock was purchased at an average price of GBX 238 per share, with a total value of £833,000. Insiders purchased 646,700 shares of company stock worth $143,176,800 in the last three months. 1.14% 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.