Greggs (LON:GRG) Given New GBX 2,170 Price Target at Berenberg Bank

Greggs (LON:GRG) had its target price reduced by Berenberg Bank from GBX 2,640 to GBX 2,170 in a report published on Thursday,Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

Several other analysts also recently commented on the stock. Royal Bank Of Canada decreased their target price on shares of Greggs from GBX 2,350 to GBX 2,190 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. JPMorgan Chase & Co. started coverage on shares of Greggs in a report on Friday, December 5th. They issued an “overweight” rating and a GBX 2,110 price objective for the company. Shore Capital reissued a “hold” rating on shares of Greggs in a research note on Wednesday, October 1st. Peel Hunt reaffirmed a “hold” rating and set a GBX 1,660 target price on shares of Greggs in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group dropped their price target on shares of Greggs from GBX 2,650 to GBX 2,500 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 1,993.33.

Greggs Trading Down 0.7%

Shares of LON:GRG traded down GBX 10.95 during mid-day trading on Thursday, hitting GBX 1,646.05. The stock had a trading volume of 685,262 shares, compared to its average volume of 2,332,631. The company’s 50 day moving average is GBX 1,617.99 and its 200-day moving average is GBX 1,645.74. Greggs has a 12-month low of GBX 1,407.20 and a 12-month high of GBX 2,266. 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 company has a market cap of £1.68 billion, a PE ratio of 11.67, a P/E/G ratio of 3.39 and a beta of 1.43.

Insider Activity at Greggs

In related news, insider Richard Hutton sold 7,438 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of GBX 1,571, for a total transaction of £116,850.98. 0.57% of the stock is owned by company insiders.

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.