Greggs plc (LON:GRG) Receives GBX 1,824.29 Average Price Target from Brokerages

Shares of Greggs plc (LON:GRG) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is GBX 1,881.43.

GRG has been the topic of several research reports. Shore Capital Group reissued a “hold” rating on shares of Greggs in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a GBX 1,330 price objective on shares of Greggs in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research note on Thursday, July 30th. UBS Group reissued a “buy” rating and set a GBX 2,200 target price on shares of Greggs in a report on Monday, May 11th. Finally, Royal Bank Of Canada raised their price target on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a research report on Friday, July 31st.

Greggs Trading Up 0.1%

Shares of LON GRG opened at GBX 1,948 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The stock’s 50 day moving average price is GBX 1,659.04 and its two-hundred day moving average price is GBX 1,629.02. Greggs has a 52-week low of GBX 1,407.20 and a 52-week high of GBX 2,046. The stock has a market capitalization of £1.99 billion, a P/E ratio of 15.11, a PEG ratio of 3.39 and a beta of 1.15.

Greggs (LON:GRG) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. On average, analysts anticipate that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Greggs news, insider Richard Smothers acquired 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of GBX 17 per share, for a total transaction of £274.55. 0.62% of the stock is currently owned by company insiders.

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.