Brokerages Set Greggs plc (LON:GRG) Target Price at GBX 2,064

Shares of Greggs plc (LON:GRG) have earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is GBX 2,064.

Several research analysts have recently weighed in on the stock. Berenberg Bank decreased their target price on shares of Greggs from GBX 3,060 to GBX 2,640 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a report on Wednesday, October 1st. Jefferies Financial Group cut their price target on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Peel Hunt reaffirmed a “hold” rating and issued a GBX 1,660 price target on shares of Greggs in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada cut their price target on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd.

Greggs Price Performance

Shares of GRG stock opened at GBX 1,672 on Monday. The company has a market capitalization of £1.70 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The firm has a fifty day simple moving average of GBX 1,622.44 and a 200-day simple moving average of GBX 1,756.85. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. Greggs has a twelve month low of GBX 1,499 and a twelve month high of GBX 2,890.

Insider Transactions at Greggs

In other Greggs news, insider Matthew Davies bought 1,249 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of GBX 1,600 per share, with a total value of £19,984. 0.56% of the stock is owned by corporate insiders.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.