Greggs plc (LON:GRG) Stock Has Consensus Price Target of GBX 1,962.86 According to Brokerages

Greggs plc (LON:GRG) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is GBX 1,962.86.

Several research firms have weighed in on GRG. JPMorgan Chase & Co. upped their price objective on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Shore Capital Group reiterated a “hold” rating and set a GBX 1,910 price objective on shares of Greggs in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Greggs from GBX 1,330 to GBX 1,420 and gave the company a “sell” rating in a research report on Wednesday, September 30th. Jefferies Financial Group lifted their price target on Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a research note on Friday, August 28th. Finally, Royal Bank Of Canada lifted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research note on Friday, July 31st.

Greggs Trading Up 1.2%

LON GRG opened at GBX 2,290 on Monday. The company has a market cap of £2.33 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.39 and a beta of 1.16. Greggs has a 52 week low of GBX 1,407.20 and a 52 week high of GBX 2,290. The business has a 50 day moving average price of GBX 1,897.94 and a 200-day moving average price of GBX 1,734.41. 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 issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. As a group, equities analysts expect that Greggs will post 142.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard Hutton sold 3,069 shares of Greggs stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.63% of the stock is currently owned by 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.