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

Greggs plc (LON:GRG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,652.61 and traded as high as GBX 1,688. Greggs shares last traded at GBX 1,680, with a volume of 78,067 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GRG shares. JPMorgan Chase & Co. initiated coverage on Greggs in a research note on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 target price on the stock. Berenberg Bank cut their price objective 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. Peel Hunt reissued a “hold” rating and set a GBX 1,660 target price on shares of Greggs in a research note on Wednesday, October 1st. Jefferies Financial Group decreased their target price on Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada cut their price target on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Greggs currently has a consensus rating of “Hold” and a consensus price target of GBX 2,071.67.

Greggs Price Performance

The stock has a market cap of £1.71 billion, a P/E ratio of 11.92, a price-to-earnings-growth 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. The firm has a 50-day moving average price of GBX 1,613.91 and a 200-day moving average price of GBX 1,652.80.

Insider Transactions at Greggs

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

About Greggs

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.