Greggs (LON:GRG) Price Target Lowered to GBX 2,190 at Royal Bank Of Canada

Greggs (LON:GRG) had its target price trimmed by Royal Bank Of Canada from GBX 2,350 to GBX 2,190 in a research report released on Thursday, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Berenberg Bank boosted their target price on Greggs from GBX 3,040 to GBX 3,060 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research note on Wednesday. Peel Hunt restated a “hold” rating and issued a GBX 1,660 target price on shares of Greggs in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and set a GBX 1,330 price objective on shares of Greggs in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 2,064.

Greggs Trading Up 1.3%

Greggs stock opened at GBX 1,676 on Thursday. The business has a 50 day moving average price of GBX 1,599.41 and a two-hundred day moving average price of GBX 1,769. The stock has a market cap of £1.71 billion, a price-to-earnings ratio of 1,187.81, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. Greggs has a 12 month low of GBX 1,499 and a 12 month high of GBX 2,956. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19.

Insider Activity

In other Greggs news, insider Matthew Davies bought 1,249 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of GBX 1,600 per share, with a total value of £19,984. 0.56% of the stock is currently owned by corporate insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,600 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.