C&C Group (LON:CCR) Shares Pass Below 200 Day Moving Average – Here’s What Happened

C&C Group plc (LON:CCR)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 133.39 and traded as low as GBX 107.40. C&C Group shares last traded at GBX 110.60, with a volume of 318,312 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CCR shares. Shore Capital Group restated a “buy” rating on shares of C&C Group in a report on Thursday, February 5th. Royal Bank Of Canada reduced their target price on shares of C&C Group from GBX 160 to GBX 130 and set a “sector perform” rating for the company in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, C&C Group presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 130.

C&C Group Stock Performance

The company has a market cap of £407.38 million, a P/E ratio of 20.11, a P/E/G ratio of 5.61 and a beta of 0.60. The firm has a 50 day moving average price of GBX 118.65 and a 200-day moving average price of GBX 133.39. The company has a debt-to-equity ratio of 68.14, a quick ratio of 0.80 and a current ratio of 1.11.

Insiders Place Their Bets

In related news, insider Vineet Bhalla purchased 6,000 shares of the stock in a transaction on Friday, February 6th. The shares were bought at an average price of GBX 115 per share, for a total transaction of £6,900. Company insiders own 5.16% of the company’s stock.

About C&C Group

C&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland.

C&C Group’s portfolio of owned/exclusive brands include Bulmers, the leading Irish cider brand and Tennent’s, the leading Scottish beer brand; as well as a range of fast-growing, premium and craft ciders and beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its Magners and Tennent’s brands to over 40 countries worldwide.

C&C Group has owned brand and contract manufacturing/packing operations in CoTipperary, Ireland and Glasgow, Scotland.

C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors.