Berenberg Bank Lowers Greencore Group (GNC) to Hold

Greencore Group (LON:GNC) was downgraded by research analysts at Berenberg Bank to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a GBX 210 ($2.74) price target on the stock, down from their prior price target of GBX 230 ($3.01). Berenberg Bank’s price objective would indicate a potential upside of 4.17% from the stock’s previous close.

Several other research firms have also commented on GNC. Jefferies Financial Group reissued a “buy” rating and issued a GBX 245 ($3.20) price objective on shares of Greencore Group in a research report on Tuesday, February 5th. Peel Hunt reissued a “hold” rating on shares of Greencore Group in a research report on Wednesday, February 6th. Shore Capital raised Greencore Group to a “buy” rating in a research report on Monday. HSBC began coverage on Greencore Group in a research report on Friday, January 25th. They set a “buy” rating and a GBX 270 ($3.53) target price on the stock. Finally, Kepler Capital Markets lowered Greencore Group to a “hold” rating and dropped their target price for the stock from GBX 225 ($2.94) to GBX 200 ($2.61) in a research report on Thursday, January 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of GBX 216.25 ($2.83).

LON:GNC opened at GBX 201.60 ($2.63) on Friday. The company has a debt-to-equity ratio of 74.17, a quick ratio of 0.34 and a current ratio of 2.01. Greencore Group has a 12 month low of GBX 120 ($1.57) and a 12 month high of GBX 225.10 ($2.94). The stock has a market capitalization of $926.26 million and a price-to-earnings ratio of 42.00.

In other Greencore Group news, insider Helen Rose bought 25,000 shares of the company’s stock in a transaction dated Tuesday, January 15th. The shares were acquired at an average cost of GBX 188 ($2.46) per share, with a total value of £47,000 ($61,413.82).

Greencore Group Company Profile

Greencore Group plc manufactures and sells various convenience food products primarily in the United Kingdom. The company provides sandwiches, sushi, salads, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, frozen Yorkshire puddings, cakes, and desserts. It also trades in Irish ingredients; and invests in properties.

Further Reading: Commodities

Analyst Recommendations for Greencore Group (LON:GNC)

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