Greggs (LON:GRG) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Greggs plc (LON:GRG)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,663.17 and traded as high as GBX 1,876. Greggs shares last traded at GBX 1,865, with a volume of 325,067 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on GRG shares. Royal Bank Of Canada increased their price objective on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Greggs from GBX 2,050 to GBX 2,210 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. UBS Group restated a “buy” rating and issued a GBX 2,200 target price on shares of Greggs in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and set a GBX 1,330 price target on shares of Greggs in a report on Thursday, July 30th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, four have issued 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 target price of GBX 1,900.

Greggs Price Performance

The business has a fifty day moving average of GBX 1,745.39 and a 200 day moving average of GBX 1,663.17. The company has a debt-to-equity ratio of 74.16, a current ratio of 0.52 and a quick ratio of 0.88. The stock has a market cap of £1.90 billion, a PE ratio of 14.47, a P/E/G ratio of 3.39 and a beta of 1.16.

Greggs (LON:GRG) last posted its quarterly earnings data 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 anticipate that Greggs plc will post 142.3763386 earnings per share for the current year.

Insider Transactions at Greggs

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 value of £59,108.94. 0.62% of the stock is owned by corporate insiders.

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.