Greggs (LON:GRG) Price Target Raised to GBX 3,060 at Berenberg Bank

Greggs (LON:GRG) had its target price hoisted by Berenberg Bank from GBX 3,040 ($40.31) to GBX 3,060 ($40.57) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Shore Capital reissued a “hold” rating on shares of Greggs in a research note on Tuesday. Peel Hunt reissued a “hold” rating and issued a GBX 1,660 ($22.01) target price on shares of Greggs in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating and issued a GBX 1,330 ($17.63) target price on shares of Greggs in a research note on Thursday, July 3rd.

Greggs Trading Up 1.5%

Greggs stock opened at GBX 1,591 ($21.10) on Wednesday. The stock has a market cap of £1.60 billion, a P/E ratio of 11.80, a PEG ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. Greggs has a fifty-two week low of GBX 1,499 ($19.88) and a fifty-two week high of GBX 3,250 ($43.09). The firm’s fifty day moving average price is GBX 1,869.23 and its 200-day moving average price is GBX 1,918.60.

Insider Transactions at Greggs

In other Greggs news, insider Roisin Currie purchased 64 shares of the business’s stock in a transaction on Saturday, June 14th. The stock was acquired at an average cost of GBX 2,791 ($37.01) per share, for a total transaction of £1,786.24 ($2,368.39). 5.89% of the stock is currently owned by 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.