Greggs plc’s (GRG) “Buy” Rating Reaffirmed at Canaccord Genuity
Greggs plc (LON:GRG)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a research note issued on Tuesday. They presently have a GBX 1,300 ($16.97) price objective on the stock. Canaccord Genuity’s price objective indicates a potential upside of 24.28% from the company’s previous close.
Several other research firms have also recently issued reports on GRG. Peel Hunt reiterated a “buy” rating and issued a GBX 1,320 ($17.23) price target on shares of Greggs plc in a report on Tuesday, August 2nd. Investec reiterated a “buy” rating and issued a GBX 1,250 ($16.32) price target on shares of Greggs plc in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Greggs plc currently has a consensus rating of “Buy” and a consensus price target of GBX 1,222.50 ($15.96).
Shares of Greggs plc (LON:GRG) opened at 1069.00 on Tuesday. The company has a 50 day moving average price of GBX 1,040.25 and a 200 day moving average price of GBX 1,051.51. The company’s market cap is GBX 1.07 billion. Greggs plc has a 52 week low of GBX 869.00 and a 52 week high of GBX 1,335.00.
The business also recently announced a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 8th will be issued a dividend of GBX 9.50 ($0.12) per share. This represents a yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th.
In other Greggs plc news, insider Hutton,Richard sold 41,170 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of GBX 1,050 ($13.71), for a total transaction of £432,285 ($564,267.07).
Greggs plc Company Profile
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company’s products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop. The Company also provides frozen bakery products to its wholesale customers. The Company owns approximately 1,698 shops, 12 regional bakeries, one distribution center and one manufacturing center.
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