Numis Loses Some Confidence in Greencore Group PLC (LON:GNC). Will Other Analysts Follow?


Greencore Group PLC (LON:GNC) Receives a Downgrade

Numis has issued an update for Greencore Group PLC (LON:GNC) shares with a new Hold rating in a very recent research note released on 27 November. Their price target on the stock is now GBX 347.00.

From a total of 8 analysts covering Greencore Group PLC (LON:GNC) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is GBX 390 while the lowest target price is GBX 340. The mean of all analyst targets is GBX 359.40 with a 10.85% above today’s (GBX 324.23) stock price. Greencore Group PLC was the topic of 20 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Investec upgraded shares on November 27 to “Buy” rating. Jefferies maintained shares with “Buy” rating and GBX 370 target share price in a report from an August 20. Berenberg maintained GNC stock in a recent report from November 26 with “Buy” rating. Finally, Peel Hunt maintained the stock with “Add” rating in a report issued on a November 24.

The stock decreased 0.24% or GBX 0.77 on November 27, striking GBX 324.23. Approximately 877,832 shares of stock traded hands or 4.02% up from the average. Greencore Group plc (LON:GNC) has declined 7.04% since May 1, 2015 and is downtrending. It has underperformed by 6.15% the S&P500.

 Numis Loses Some Confidence in Greencore Group PLC (LON:GNC). Will Other Analysts Follow?

Greencore Group plc is engaged in the convenience food business. The company has a market cap of 1.33 billion GBP. The Company’s two markets are the United Kingdom and the United States where the Company provides a range of food to go products supplemented by other chilled, frozen and ambient foods to major retail and food service customers. It has 23.1 P/E ratio. The Firm has 16 convenience foods facilities in the United Kingdom and six in the United States.

According to Zacks Investment Research, “GNC Holdings, Inc. operates as a specialty retailer of nutritional products including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products. The Company offers its products under the brands- Mega Men, Ultra Mega, GNC WELLbeING, Pro Performance, Pro Performance AMP and Longevity Factors and etc. It also offers products and product information online. GNC Holdings, Inc. is based in Pittsburgh, Pennsylvania.” Get a free copy of the Zacks research report on Greencore Group plc (GNC)