Greggs (LON:GRG) Stock Gets Price Target Bump from Berenberg Bank

Greggs (LON:GRG) had its target price increased by research analysts at Berenberg Bank from GBX 2,200 to GBX 2,300 in a note issued to investors on Thursday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 13.52% from the stock’s previous close.

Several other research firms also recently weighed in on GRG. Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Jefferies Financial Group boosted their price objective on Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research note on Friday, August 28th. Royal Bank Of Canada boosted their price objective 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. Finally, Shore Capital Group reissued a “hold” rating and set a GBX 1,910 target price on shares of Greggs in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 1,962.86.

Greggs Stock Performance

LON:GRG opened at GBX 2,026 on Thursday. The company has a debt-to-equity ratio of 74.16, a quick ratio of 0.88 and a current ratio of 0.52. The company has a fifty day moving average of GBX 1,848.69 and a two-hundred day moving average of GBX 1,693.05. The stock has a market capitalization of £2.07 billion, a PE ratio of 15.72, a P/E/G ratio of 3.39 and a beta of 1.16. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,058.

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

Insider Activity

In other news, insider Richard Hutton sold 3,069 shares of the 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. 0.63% of the stock is owned by insiders.

Trending Headlines about Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth, reinforcing the view that customer demand remains resilient. The company also outlined a manufacturing restructuring plan, which could improve efficiency over time. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Analyst expectations have improved following the trading update. Berenberg raised its price target from GBX 2,200 to GBX 2,300 and maintained a buy rating, while other commentary describes the latest forecasts as more favorable. Q4 London Shares to Watch
• Positive Sentiment: Greggs’ fair-value assessment received a boost as analysts incorporated the strong Q3 performance and updated outlook, providing additional support for the stock. Greggs Stock Gets Fair Value Bump
• Neutral Sentiment: Shore Capital reaffirmed its hold rating, suggesting the improved trading momentum is broadly reflected in Greggs’ valuation after its strong share-price performance. Shore Capital Reaffirms Hold Rating
• Negative Sentiment: Deutsche Bank raised its target from GBX 1,330 to GBX 1,420 but retained a sell rating, indicating that it views the shares as overvalued despite the improved outlook. Analysts have also cited ongoing cost pressures as a reason for caution. Deutsche Bank Forecast for Greggs

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.