Greggs (LON:GRG) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Greggs plc (LON:GRG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,621.36 and traded as high as GBX 1,677. Greggs shares last traded at GBX 1,669, with a volume of 238,905 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on GRG shares. UBS Group reiterated a “buy” rating and issued a GBX 2,200 price objective on shares of Greggs in a report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,610 target price on shares of Greggs in a research note on Tuesday, May 12th. Royal Bank Of Canada cut their target price on Greggs from GBX 1,970 to GBX 1,830 and set an “outperform” rating for the company in a research note on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating and set a GBX 1,330 target price on shares of Greggs in a research note on Wednesday, May 13th. Finally, Shore Capital Group reissued a “hold” rating on shares of Greggs in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 1,824.29.

Greggs Stock Performance

The firm has a 50 day simple moving average of GBX 1,619.21 and a 200-day simple moving average of GBX 1,623. The company has a debt-to-equity ratio of 75.94, a current ratio of 0.56 and a quick ratio of 0.88. The company has a market cap of £1.73 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 3.39 and a beta of 1.13.

Greggs (LON:GRG) last posted its earnings results on Wednesday, March 4th. The company reported GBX 120 earnings per share for the quarter. Greggs had a net margin of 5.68% and a return on equity of 20.47%. As a group, analysts predict that Greggs plc will post 142.3763386 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard Smothers bought 1,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of GBX 17 per share, for a total transaction of £274.55. Company 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 2,700 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.