Greggs (LON:GRG) Price Target Raised to GBX 2,200

Greggs (LON:GRG) had its price objective boosted by Berenberg Bank from GBX 2,090 to GBX 2,200 in a report released on Thursday morning,Digital Look reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,610 price target on shares of Greggs in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research report on Wednesday, May 13th. UBS Group restated a “buy” rating and set a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. Finally, Shore Capital Group reaffirmed a “hold” rating on shares of Greggs in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 1,881.43.

Greggs Stock Down 7.5%

Shares of LON GRG opened at GBX 1,880 on Thursday. The stock has a market cap of £1.92 billion, a P/E ratio of 15.76, a PEG ratio of 3.39 and a beta of 1.15. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,046. The business’s fifty day simple moving average is GBX 1,650.54 and its 200-day simple moving average is GBX 1,624.75.

Greggs (LON:GRG) last released 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%. As a group, equities analysts predict that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Buying and Selling

In other Greggs news, insider Richard Smothers bought 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of GBX 17 per share, with a total value of £274.55. 0.62% of the stock is owned by company insiders.

Key Stories Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Strong first-half results: Greggs reported a 20% increase in first-half profit, with growth in its grocery business and continued market-share gains. The company’s value strategy is helping maintain customer demand despite pressure on household budgets. UK’s Greggs first-half profit up 20% as grocery business grows
• Positive Sentiment: Positive broker revisions: Berenberg raised its price target from GBX 2,090 to GBX 2,200 and upgraded Greggs to “buy.” JPMorgan also increased its target from GBX 2,050 to GBX 2,210 and maintained an “outperform” stance. These revisions reinforce the bullish reaction to the trading update. Broker views
• Positive Sentiment: International growth opportunity: Reports that Greggs is finding demand for its products, including sausage rolls, in the Canary Islands highlight potential for expansion beyond its core UK estate. UK’s Greggs finds appetite for sausage rolls in the Canary Islands
• Neutral Sentiment: Mixed analyst consensus: Royal Bank of Canada raised its target from GBX 1,830 to GBX 1,960 but retained a “sector perform” rating. Jefferies likewise reiterated its “hold” recommendation, indicating that valuation or execution risks may limit near-term upside. Broker views
• Negative Sentiment: Bearish counterpoint: Deutsche Bank reaffirmed its “sell” rating and assigned a GBX 1,330 target, substantially below recent trading levels. This signals concern that the strong results and rally may already be reflected in the share price. Deutsche Bank broker view

About Greggs

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.