Bakkavor Group (LON:BAKK) Shares Up 16.9% – What’s Next?

Bakkavor Group plc (LON:BAKK)’s share price shot up 16.9% during mid-day trading on Saturday . The company traded as high as GBX 189 ($2.44) and last traded at GBX 176.50 ($2.28). 1,004,449 shares changed hands during mid-day trading, an increase of 106% from the average session volume of 488,569 shares. The stock had previously closed at GBX 151 ($1.95).

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a GBX 170 ($2.20) price target on shares of Bakkavor Group in a research report on Thursday.

Bakkavor Group Stock Up 16.9 %

The firm’s 50-day moving average is GBX 142.80 and its two-hundred day moving average is GBX 146.80. The company has a debt-to-equity ratio of 53.92, a quick ratio of 0.43 and a current ratio of 0.62. The stock has a market cap of £1.03 billion, a P/E ratio of 16.07, a PEG ratio of 0.61 and a beta of 0.63.

Bakkavor Group (LON:BAKK) last released its earnings results on Tuesday, March 4th. The company reported GBX 9.60 ($0.12) earnings per share for the quarter. Bakkavor Group had a return on equity of 10.43% and a net margin of 2.86%. On average, equities research analysts anticipate that Bakkavor Group plc will post 11.5761689 earnings per share for the current year.

About Bakkavor Group

We are the leading provider of fresh prepared food in the UK, and our presence in the US and China positions the Group well in these high-growth markets. We leverage our consumer insight and scale to provide innovative food that offers quality, choice, convenience, and freshness. Around 18,000 colleagues operate from 43 sites across our three markets supplying a portfolio of over 3,000 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China.