Greggs (LON:GRG) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Greggs plc (LON:GRG)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,630.85 and traded as high as GBX 1,670. Greggs shares last traded at GBX 1,663, with a volume of 202,660 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research report on Wednesday, October 1st. Jefferies Financial Group lowered their target price on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Peel Hunt reaffirmed a “hold” rating and issued a GBX 1,660 price target on shares of Greggs in a research report on Wednesday, October 1st. Berenberg Bank decreased their price objective on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Greggs in a research note on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of GBX 1,993.33.

Greggs Stock Up 0.2%

The firm’s 50-day moving average price is GBX 1,636.01 and its two-hundred day moving average price is GBX 1,630.11. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The firm has a market cap of £1.69 billion, a PE ratio of 11.79, a P/E/G ratio of 3.39 and a beta of 1.43.

Greggs (LON:GRG) last announced its quarterly earnings results on Friday, January 16th. The company reported GBX 45.60 EPS for the quarter. Greggs had a net margin of 7.13% and a return on equity of 26.79%. As a group, equities research analysts expect that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling at Greggs

In related news, insider Richard Hutton sold 7,438 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total value of £116,850.98. Insiders own 0.57% of the company’s stock.

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.