Greggs (LON:GRG) Sets New 1-Year High – What’s Next?

Shares of Greggs plc (LON:GRG) reached a new 52-week high during trading on Tuesday. The company traded as high as GBX 2,348 and last traded at GBX 2,346, with a volume of 592,437 shares changing hands. The stock had previously closed at GBX 2,290.

Analyst Ratings Changes

Several research firms have recently weighed in on GRG. JPMorgan Chase & Co. lifted their target price on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Berenberg Bank lifted their price objective on shares of Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Royal Bank Of Canada boosted their target price on shares of 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. Jefferies Financial Group boosted their target price on shares of 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, Shore Capital Group restated a “hold” rating and issued a GBX 1,910 target price on shares of Greggs in a report on Wednesday, September 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 1,962.86.

Greggs Price Performance

The stock has a market capitalization of £2.29 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. The stock has a 50-day simple moving average of GBX 1,923.23 and a 200 day simple moving average of GBX 1,751.90.

Greggs (LON:GRG) last released its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. On average, equities research analysts forecast that Greggs plc will post 142.38 EPS for the current fiscal year.

Insider Activity at Greggs

In related news, insider Richard Hutton sold 3,069 shares of the firm’s stock in a transaction that occurred 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.

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.