Greggs’ (GRG) Hold Rating Reiterated at Shore Capital Group

Greggs (LON:GRG)‘s stock had its “hold” rating reissued by equities researchers at Shore Capital Group in a research note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 1,910 price objective on the stock. Shore Capital Group’s price objective points to a potential downside of 5.26% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Berenberg Bank raised their price objective on shares of Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a report on Thursday, July 30th. Jefferies Financial Group boosted their target price on shares of Greggs from GBX 1,610 to GBX 1,740 and gave the stock a “hold” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. raised their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a report on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of GBX 1,901.25.

Greggs Stock Up 7.5%

GRG stock traded up GBX 141 during mid-day trading on Wednesday, reaching GBX 2,016. The company had a trading volume of 81,996,594 shares, compared to its average volume of 3,887,614. The firm has a fifty day simple moving average of GBX 1,823.54 and a 200 day simple moving average of GBX 1,685.89. 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 market capitalization of £2.06 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth 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 issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. Analysts forecast that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Greggs news, insider Richard Hutton sold 3,069 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.63% of the stock is owned by corporate insiders.

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.