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

Greggs (LON:GRG) had its price objective lifted by 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 brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential downside of 6.12% from the stock’s current price.

A number of other research analysts have also weighed in on GRG. Berenberg Bank upped their price objective on Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a GBX 2,200 price target on shares of Greggs in a report on Monday, May 11th. Finally, Shore Capital Group reiterated a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Greggs has a consensus rating of “Hold” and a consensus price target of GBX 1,900.

Greggs Price Performance

Shares of GRG opened at GBX 1,853.38 on Friday. 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’s 50 day moving average is GBX 1,718.47 and its two-hundred day moving average is GBX 1,653.46. Greggs has a twelve month low of GBX 1,407.20 and a twelve month high of GBX 2,046. The firm has a market capitalization 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 (LON:GRG) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Research analysts anticipate that Greggs will post 142.3763386 earnings per share for the current year.

Insider Buying and Selling

In other Greggs news, insider Richard Hutton sold 3,069 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Company 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.