ProCook Group (LON:PROC) Trading 9.3% Higher – Here’s Why

ProCook Group plc (LON:PROC) shares shot up 9.3% during mid-day trading on Wednesday . The stock traded as high as GBX 43.81 and last traded at GBX 42.20. Approximately 244,442 shares changed hands during trading, an increase of 465% from the average daily volume of 43,263 shares. The stock had previously closed at GBX 38.60.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 62 price objective on shares of ProCook Group in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of GBX 62.

ProCook Group Stock Up 9.3%

The firm has a 50-day simple moving average of GBX 36.28 and a 200 day simple moving average of GBX 34.78. The company has a market capitalization of £44.50 million, a PE ratio of 37.68 and a beta of 0.75. The company has a debt-to-equity ratio of 417.35, a current ratio of 0.81 and a quick ratio of 0.36.

ProCook Group Company Profile

ProCook is the UK’s leading direct-to-consumer specialist kitchenware brand. ProCook designs, develops, and retails a high-quality range of direct-sourced and own-brand kitchenware which provides customers with significant value for money.

The brand sells directly through its website, www.procook.co.uk, and through an expanding network of over 60 own-brand retail stores, located across the UK.

Founded over 25 years ago as a family business, selling cookware sets by direct mail in the UK, ProCook has grown into a market leading, multi-channel specialist kitchenware company, employing over 600 colleagues, and operating from its Store Support Centre in Gloucester.