Greggs (LON:GRG) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Greggs (LON:GRG) in a note issued to investors on Friday,Digital Look reports. The brokerage set an “overweight” rating and a GBX 2,110 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 25.74% from the stock’s current price.

A number of other research firms also recently weighed in on GRG. Peel Hunt restated a “hold” rating and issued a GBX 1,660 target price on shares of Greggs in a research report on Wednesday, October 1st. Berenberg Bank cut their price objective on Greggs from GBX 3,060 to GBX 2,640 and set a “buy” rating for the company in a report on Thursday, October 2nd. Royal Bank Of Canada lowered their target price on Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Jefferies Financial Group reduced their price objective on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Shore Capital reissued a “hold” rating on shares of Greggs in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of GBX 2,071.67.

Greggs Trading Up 5.5%

Shares of LON:GRG opened at GBX 1,678 on Friday. The company has a 50 day moving average of GBX 1,604.52 and a 200-day moving average of GBX 1,703.86. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The firm has a market cap of £1.71 billion, a P/E ratio of 11.89, a P/E/G ratio of 3.39 and a beta of 1.43. Greggs has a twelve month low of GBX 1,407.20 and a twelve month high of GBX 2,890.

Insider Activity at Greggs

In other news, insider Richard Hutton sold 7,438 shares of Greggs stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.56% 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 2,600 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.