Greggs (LON:GRG) Sets New 12-Month High After Analyst Upgrade

Shares of Greggs plc (LON:GRG) hit a new 52-week high during trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from GBX 1,330 to GBX 1,420. Deutsche Bank Aktiengesellschaft currently has a sell rating on the stock. Greggs traded as high as GBX 2,058 and last traded at GBX 1,987.21, with a volume of 9139495 shares traded. The stock had previously closed at GBX 1,875.

A number of other analysts also recently issued reports on GRG. JPMorgan Chase & Co. lifted their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a report on Friday, July 31st. Shore Capital Group reissued a “hold” rating and set a GBX 1,910 target price on shares of Greggs in a research report on Wednesday. Jefferies Financial Group boosted their target price on Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research note on Friday, August 28th. Finally, Berenberg Bank upped their price target on Greggs from GBX 2,200 to GBX 2,300 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 1,962.86.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Corporate insiders own 0.63% of the company’s stock.

Key Headlines Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth and raised its profit outlook, citing improved trading. The update reinforces confidence in demand and is the main fundamental reason investors remain constructive. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Berenberg raised its price target from GBX 2,200 to GBX 2,300 and retained a buy rating, implying further upside based on Greggs’ sales momentum and earnings outlook. Shares round-up: why Greggs and Liontrust are big winners
• Positive Sentiment: Greggs is highlighted as a London share to watch in the fourth quarter, suggesting the improved outlook and resilient customer demand could keep the company in focus with investors. Q4 London Shares to Watch
• Neutral Sentiment: Shore Capital reaffirmed its hold rating and set a GBX 1,910 target, indicating that the recent rally may already reflect much of the improved outlook. Shore Capital Greggs Rating
• Negative Sentiment: Deutsche Bank lifted its target from GBX 1,330 to GBX 1,420 but maintained a sell rating. The target remains well below recent trading levels, signaling valuation concerns despite the positive earnings update. Deutsche Bank Forecast for Greggs
• Negative Sentiment: Manufacturing restructuring and ongoing cost pressures introduce execution risks and could weigh on margins, prompting at least one market view to downgrade Greggs to hold above £20 per share. Greggs Cost Pressures and Hold Downgrade

Greggs Stock Up 1.6%

The stock has a market capitalization of £2.06 billion, a PE ratio of 15.67, a PEG ratio of 3.39 and a beta of 1.16. The firm’s fifty day moving average is GBX 1,839.81 and its 200-day moving average is GBX 1,690.70. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16.

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

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.