Greggs plc (LON:GRG) Given Average Rating of “Hold” by Analysts

Greggs plc (LON:GRG) has been given an average recommendation of “Hold” by the seven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is GBX 2,071.67.

Several equities research analysts have issued reports on the stock. Shore Capital reiterated a “hold” rating on shares of Greggs in a research note on Wednesday, October 1st. Berenberg Bank lowered their target price on Greggs from GBX 3,060 to GBX 2,640 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. JPMorgan Chase & Co. started coverage on Greggs in a report on Friday, December 5th. They set an “overweight” rating and a GBX 2,110 target price on the stock. Jefferies Financial Group decreased their price target on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Peel Hunt reaffirmed a “hold” rating and set a GBX 1,660 price target on shares of Greggs in a research report on Wednesday, October 1st.

Greggs Price Performance

LON GRG opened at GBX 1,728.08 on Tuesday. The firm’s 50 day moving average is GBX 1,609.42 and its 200-day moving average is GBX 1,670.11. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The company has a market capitalization of £1.76 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,890.

Insiders Place Their Bets

In other Greggs news, insider Richard Hutton sold 7,438 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of GBX 1,571, for a total transaction of £116,850.98. Insiders own 0.57% of the company’s stock.

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. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.