Greggs plc (LON:GRG) Stock Has Average Target Price of GBX 1,962.86

Shares of Greggs plc (LON:GRG) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 1,962.86.

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on 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. upped their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the company an “outperform” rating in a report on Thursday, July 30th. Royal Bank Of Canada increased their price objective 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. Berenberg Bank lifted their price objective on Greggs from GBX 2,200 to GBX 2,300 and gave the stock a “buy” rating in a report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Greggs from GBX 1,330 to GBX 1,420 and gave the stock a “sell” rating in a report on Wednesday, September 30th.

Greggs Stock Performance

Shares of Greggs stock opened at GBX 2,198 on Monday. Greggs has a 1 year low of GBX 1,407.20 and a 1 year high of GBX 2,214. The firm’s 50-day moving average is GBX 1,883.57 and its 200 day moving average is GBX 1,725.03. The stock has a market cap of £2.24 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 3.39 and a beta of 1.16. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88.

Greggs (LON:GRG) last issued its earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. Sell-side analysts anticipate that Greggs will post 142.38 EPS for the current fiscal year.

Insider Transactions at Greggs

In other news, insider Richard Hutton sold 3,069 shares of the firm’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. Corporate insiders own 0.63% of the company’s stock.

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.