Shore Capital Group Reaffirms “Hold” Rating for Greggs (LON:GRG)

Greggs (LON:GRG)‘s stock had its “hold” rating reiterated by analysts at Shore Capital Group in a report released on Wednesday, Digital Look reports. They currently have a GBX 1,910 price target on the stock. Shore Capital Group’s price target indicates a potential downside of 3.92% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Berenberg Bank lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of 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 reissued a “sell” rating and set a GBX 1,330 price objective on shares of Greggs 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 report on Friday, August 28th. Finally, Royal Bank Of Canada upped their target price on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Greggs has a consensus rating of “Hold” and an average target price of GBX 1,962.86.

Greggs Price Performance

Shares of LON GRG opened at GBX 1,988 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.52 and a debt-to-equity ratio of 74.16. Greggs has a fifty-two week low of GBX 1,407.20 and a fifty-two week high of GBX 2,058. The business has a 50 day moving average price of GBX 1,839.81 and a two-hundred day moving average price of GBX 1,690.70. The firm has a market cap of £2.03 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last announced 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%. Sell-side analysts expect that Greggs will post 142.3763386 earnings per share for the current fiscal year.

Insider Activity at Greggs

In related news, insider Richard Hutton sold 3,069 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total transaction of £59,108.94. Company insiders own 0.63% of the company’s stock.

Key Stories Impacting Greggs

Here are the key news stories impacting Greggs this week:

• Positive Sentiment: Greggs reported 7.7% third-quarter sales growth and raised its profit outlook, citing improved trading. The update reinforces confidence in demand and is the main fundamental reason investors remain constructive. Greggs Reports 7.7% Q3 Sales Growth and Proposes Manufacturing Restructuring
• Positive Sentiment: Berenberg raised its price target from GBX 2,200 to GBX 2,300 and retained a buy rating, implying further upside based on Greggs’ sales momentum and earnings outlook. Shares round-up: why Greggs and Liontrust are big winners
• Positive Sentiment: Greggs is highlighted as a London share to watch in the fourth quarter, suggesting the improved outlook and resilient customer demand could keep the company in focus with investors. Q4 London Shares to Watch
• Neutral Sentiment: Shore Capital reaffirmed its hold rating and set a GBX 1,910 target, indicating that the recent rally may already reflect much of the improved outlook. Shore Capital Greggs Rating
• Negative Sentiment: Deutsche Bank lifted its target from GBX 1,330 to GBX 1,420 but maintained a sell rating. The target remains well below recent trading levels, signaling valuation concerns despite the positive earnings update. Deutsche Bank Forecast for Greggs
• Negative Sentiment: Manufacturing restructuring and ongoing cost pressures introduce execution risks and could weigh on margins, prompting at least one market view to downgrade Greggs to hold above £20 per share. Greggs Cost Pressures and Hold Downgrade

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.