Greencore Group (LON:GNC) Stock Falls 1.3% – Time to Sell?

Greencore Group plc (LON:GNC)’s share price dropped 1.3% during mid-day trading on Wednesday. The stock traded as low as GBX 295.80 and last traded at GBX 297.80. 1,833,662 shares were traded during trading, a decline of 75% from the average daily volume of 7,243,428 shares. The stock had previously closed at GBX 301.80.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Berenberg Bank upped their price objective on Greencore Group from GBX 351 to GBX 384 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Royal Bank Of Canada upgraded Greencore Group to an “outperform” rating and raised their price objective for the stock from GBX 330 to GBX 345 in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 185 target price on shares of Greencore Group in a research note on Tuesday, October 13th. Finally, Shore Capital Group reiterated a “house stock” rating on shares of Greencore Group in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 309.75.

Greencore Group Stock Down 1.3%

The company has a market cap of £2.39 billion, a price-to-earnings ratio of 106.36, a price-to-earnings-growth ratio of 0.10 and a beta of 0.85. The company has a debt-to-equity ratio of 80.03, a quick ratio of 0.62 and a current ratio of 0.74. The business’s 50 day simple moving average is GBX 267.11 and its 200-day simple moving average is GBX 249.74.

Greencore Group Company Profile

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.