Greggs plc (LON:GRG) Receives Average Recommendation of “Hold” from Brokerages

Greggs plc (LON:GRG) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is GBX 1,775.

Several equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Greggs to a “hold” rating and dropped their price objective for the stock from GBX 2,500 to GBX 1,610 in a research note on Monday, February 9th. Royal Bank Of Canada decreased their target price on shares of Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating for the company in a research note on Tuesday, March 10th. Berenberg Bank decreased their target price on shares of 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. lowered their target price on shares of Greggs from GBX 2,060 to GBX 2,050 and set an “overweight” rating for the company in a report on Wednesday, March 4th.

Greggs Stock Performance

Shares of Greggs stock opened at GBX 1,510 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.88 and a debt-to-equity ratio of 75.94. The firm has a market capitalization of £1.54 billion, a P/E ratio of 10.70, a P/E/G ratio of 3.39 and a beta of 1.28. The business has a fifty day simple moving average of GBX 1,609.74 and a two-hundred day simple moving average of GBX 1,619.65. Greggs has a 12 month low of GBX 1,407.20 and a 12 month high of GBX 2,237.88.

Greggs (LON:GRG) last released its earnings results on Wednesday, March 4th. The company reported GBX 120 earnings per share for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. On average, equities analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

About Greggs

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.