Greggs (LON:GRG) Earns “Hold” Rating from Shore Capital Group

Greggs (LON:GRG)‘s stock had its “hold” rating reiterated by research analysts at Shore Capital Group in a research note issued on Wednesday, September 30th, Digital Look reports. They presently have a GBX 1,910 price target on the stock. Shore Capital Group’s target price suggests a potential downside of 8.08% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research report on Thursday, July 30th. Royal Bank Of Canada lifted their target price on Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Berenberg Bank increased their target price on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group increased their price objective on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a research note on Friday, August 28th. Three investment 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’s stock. According to MarketBeat, Greggs currently has an average rating of “Hold” and an average target price of GBX 1,962.86.

Greggs Price Performance

Greggs stock traded up GBX 28 during trading hours on Wednesday, hitting GBX 2,078. 579,794 shares of the company traded hands, compared to its average volume of 3,395,454. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,084. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. The firm’s 50-day simple moving average is GBX 1,863.31 and its two-hundred day simple moving average is GBX 1,699.82. The firm has a market cap of £2.12 billion, a P/E ratio of 16.12, a P/E/G ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last announced its quarterly 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, analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Transactions at Greggs

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 value of £59,108.94. 0.63% of the stock is currently owned by insiders.

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.