Jefferies Financial Group Raises Greggs (LON:GRG) Price Target to GBX 1,740

Greggs (LON:GRG) had its target price lifted by analysts at Jefferies Financial Group from GBX 1,610 to GBX 1,740 in a research note issued to investors on Friday,London Stock Exchange reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential downside of 6.12% from the company’s previous close.

A number of other brokerages have also commented on GRG. JPMorgan Chase & Co. boosted 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. Royal Bank Of Canada boosted their price target on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Shore Capital Group reissued a “hold” rating on shares of Greggs in a report on Tuesday, May 12th. Berenberg Bank increased their price target on Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Greggs has a consensus rating of “Hold” and an average price target of GBX 1,900.

Greggs Trading Up 0.3%

Shares of GRG opened at GBX 1,853.38 on Friday. The stock has a market cap of £1.89 billion, a PE ratio of 14.38, a P/E/G ratio of 3.39 and a beta of 1.16. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 2,046. The stock’s 50-day moving average is GBX 1,718.47 and its two-hundred day moving average is GBX 1,653.46. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88.

Greggs (LON:GRG) last posted its earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. Equities analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling at Greggs

In other news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total value of £59,108.94. Insiders own 0.62% of the company’s stock.

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.