Greggs (LON:GRG) Share Price Passes Above 200 Day Moving Average – What’s Next?

Greggs plc (LON:GRG)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,622.05 and traded as high as GBX 1,638. Greggs shares last traded at GBX 1,596, with a volume of 446,145 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Greggs in a report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 price target for the company. Berenberg Bank cut their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Jefferies Financial Group downgraded shares of Greggs to a “hold” rating and lowered their target price for the company from GBX 2,500 to GBX 1,610 in a report on Monday, February 9th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of GBX 1,845.

Greggs Price Performance

The stock has a market cap of £1.62 billion, a P/E ratio of 11.28, a P/E/G ratio of 3.39 and a beta of 1.43. The business has a 50 day simple moving average of GBX 1,655.21 and a 200-day simple moving average of GBX 1,622.05. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Greggs (LON:GRG) last released its earnings results on Friday, January 16th. The company reported GBX 45.60 EPS for the quarter. Greggs had a return on equity of 26.79% and a net margin of 7.13%. On average, sell-side analysts forecast that Greggs plc will post 142.3763386 EPS for the current year.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.