C&C Group (LON:CCR) Stock Price Down 9.3% – Here’s Why

C&C Group plc (LON:CCR) shares dropped 9.3% during trading on Saturday . The stock traded as low as GBX 105.20 and last traded at GBX 116.65. Approximately 2,543,067 shares changed hands during trading, an increase of 237% from the average daily volume of 754,543 shares. The stock had previously closed at GBX 128.60.

Key Stories Impacting C&C Group

Here are the key news stories impacting C&C Group this week:

• Positive Sentiment: Concise headline-level summary of each item that could drive the stock up, with a one-line rationale and a link to the source.
• Neutral Sentiment: Operational/company updates or macro items that are uncertain or mixed in impact.
• Negative Sentiment: News likely to pressure the stock, with a short explanation and source link.

Analysts Set New Price Targets

Separately, Shore Capital restated a “buy” rating on shares of C&C Group in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, C&C Group currently has an average rating of “Buy”.

C&C Group Stock Down 9.3%

The stock’s fifty day simple moving average is GBX 130.26 and its 200-day simple moving average is GBX 147.80. The stock has a market cap of £429.65 million, a P/E ratio of 21.21, a P/E/G ratio of 5.61 and a beta of 1.26. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16.

C&C Group Company Profile

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.