JPMorgan Chase & Co. Lowers Greggs (LON:GRG) Price Target to GBX 2,050

Greggs (LON:GRG) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from GBX 2,060 to GBX 2,050 in a report issued on Wednesday, MarketBeat reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 25.18% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Berenberg Bank lowered their target price on Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a research report on Thursday, January 8th. Jefferies Financial Group cut Greggs to a “hold” rating and decreased their price target for the company from GBX 2,500 to GBX 1,610 in a research note on Monday, February 9th. Three 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 1,835.

Greggs Trading Up 2.0%

LON:GRG traded up GBX 32.58 during mid-day trading on Wednesday, hitting GBX 1,637.58. 712,561 shares of the company’s stock were exchanged, compared to its average volume of 1,993,145. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,237.88. The company has a current ratio of 0.49, a quick ratio of 0.88 and a debt-to-equity ratio of 79.33. The firm has a market capitalization of £1.67 billion, a P/E ratio of 11.61, a PEG ratio of 3.39 and a beta of 1.31. The company has a 50 day simple moving average of GBX 1,642.74 and a 200-day simple moving average of GBX 1,621.27.

Greggs (LON:GRG) last released its quarterly earnings results on Wednesday, March 4th. The company reported GBX 120 earnings per share (EPS) for the quarter. Greggs had a net margin of 6.96% and a return on equity of 25.41%. As a group, research analysts expect that Greggs will post 142.3763386 earnings per share for the current year.

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.