Greggs (LON:GRG) Releases Earnings Results

Greggs (LON:GRG) posted its quarterly earnings results on Friday. The company reported GBX 45.60 earnings per share for the quarter, Digital Look Earnings reports. Greggs had a net margin of 7.13% and a return on equity of 26.79%.

Greggs Stock Down 1.1%

Shares of GRG opened at GBX 1,655 on Friday. The company’s 50-day moving average price is GBX 1,624.76 and its 200 day moving average price is GBX 1,633.92. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,246. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The firm has a market cap of £1.69 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insider Buying and Selling at Greggs

In other Greggs news, insider Richard Hutton sold 7,438 shares of Greggs stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on GRG. JPMorgan Chase & Co. started coverage on Greggs in a report on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 price target for the company. Royal Bank Of Canada dropped their target price on Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Jefferies Financial Group reduced their price target on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Berenberg Bank dropped their price objective on shares of Greggs from GBX 2,640 to GBX 2,170 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Peel Hunt reaffirmed a “hold” rating and set a GBX 1,660 target price on shares of Greggs in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 1,993.33.

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.