Berenberg Bank Reaffirms Buy Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a research note issued on Thursday,Digital Look reports. They presently have a GBX 2,090 target price on the stock. Berenberg Bank’s price target suggests a potential upside of 25.83% from the company’s current price.

Several other analysts have also issued reports on GRG. UBS Group restated a “buy” rating and issued a GBX 2,200 price target on shares of Greggs in a research report on Monday. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,610 target price on shares of Greggs in a research note on Tuesday. Royal Bank Of Canada decreased their target price on Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating on the stock in a research report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. lowered their price target on Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of GBX 1,824.29.

Greggs Trading Up 0.6%

Greggs stock opened at GBX 1,661 on Thursday. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,237.88. The company has a debt-to-equity ratio of 75.94, a quick ratio of 0.88 and a current ratio of 0.56. The firm has a market capitalization of £1.69 billion, a PE ratio of 13.92, a PEG ratio of 3.39 and a beta of 1.13. The business’s 50-day simple moving average is GBX 1,586.84 and its 200-day simple moving average is GBX 1,611.25.

Greggs (LON:GRG) last announced its earnings results on Wednesday, March 4th. The company reported GBX 120 earnings per share for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. Equities research analysts forecast that Greggs will post 142.3763386 earnings per share for the current year.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,700 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.