Greggs (LON:GRG) Price Target Raised to GBX 2,210

Greggs (LON:GRG) had its target price lifted by stock analysts at JPMorgan Chase & Co. from GBX 2,050 to GBX 2,210 in a report issued on Thursday,Digital Look reports. The firm presently has an “outperform” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.37% from the stock’s current price.

A number of other analysts have also weighed in on the company. Berenberg Bank raised their target price on Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a research note on Thursday. Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research note on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,610 target price on shares of Greggs in a research note on Wednesday. Finally, UBS Group reiterated a “buy” rating and set a GBX 2,200 price objective on shares of Greggs in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of GBX 1,862.86.

Greggs Stock Performance

LON GRG opened at GBX 2,002.40 on Thursday. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,046. The company has a 50 day moving average of GBX 1,641.42 and a 200-day moving average of GBX 1,620.23. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. The firm has a market cap of £2.04 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last released its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.47% and a net margin of 5.68%. On average, equities analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Activity at Greggs

In other news, insider Richard Smothers acquired 1,615 shares of Greggs stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is currently owned by company insiders.

About Greggs

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.