Analysts Set Greggs plc (LON:GRG) Price Target at GBX 1,900

Shares of Greggs plc (LON:GRG) have been assigned an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 1,900.

Several analysts have commented on GRG shares. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating and issued a GBX 1,330 price target on shares of Greggs in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Berenberg Bank increased their price target on Greggs from GBX 2,090 to GBX 2,200 and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group raised their price target on Greggs from GBX 1,610 to GBX 1,740 and gave the company a “hold” rating in a report on Friday, August 28th. Finally, Royal Bank Of Canada lifted their price objective on Greggs from GBX 1,830 to GBX 1,960 and gave the stock a “sector perform” rating in a research note on Friday, July 31st.

Insiders Place Their Bets

In related news, insider Richard Hutton sold 3,069 shares of the company’s stock in a transaction on 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.

Greggs Stock Performance

LON:GRG opened at GBX 1,801 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,046. The stock has a 50-day moving average price of GBX 1,792.04 and a 200 day moving average price of GBX 1,678.51. The stock has a market capitalization of £1.84 billion, a P/E ratio of 13.97, a P/E/G ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 EPS for the quarter. Greggs had a return on equity of 20.97% and a net margin of 5.93%. Equities research analysts forecast that Greggs will post 142.3763386 EPS for the current fiscal year.

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.